MGM Resorts International $MGM Shares Sold by GMT Capital Corp

GMT Capital Corp lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 21.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 780,100 shares of the company’s stock after selling 213,800 shares during the quarter. MGM Resorts International comprises approximately 1.5% of GMT Capital Corp’s holdings, making the stock its 14th largest position. GMT Capital Corp owned approximately 0.30% of MGM Resorts International worth $28,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC acquired a new position in MGM Resorts International during the 2nd quarter worth $25,000. Global Retirement Partners LLC boosted its position in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares during the period. Elyxium Wealth LLC acquired a new position in MGM Resorts International during the 4th quarter worth $42,000. City Holding Co. acquired a new position in MGM Resorts International during the 4th quarter worth $44,000. Finally, Stance Capital LLC acquired a new position in MGM Resorts International during the 3rd quarter worth $46,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGM. Citigroup reduced their price target on MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. The Goldman Sachs Group boosted their price target on MGM Resorts International from $34.00 to $38.00 and gave the stock a “sell” rating in a research report on Thursday, April 30th. UBS Group boosted their price target on MGM Resorts International from $39.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Jefferies Financial Group lowered MGM Resorts International from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $44.00 in a report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on MGM Resorts International from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.18.

MGM Resorts International Trading Up 3.6%

Shares of MGM Resorts International stock opened at $48.91 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 67.93 and a beta of 1.31. The business has a fifty day simple moving average of $40.27 and a 200-day simple moving average of $37.35. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. On average, equities analysts forecast that MGM Resorts International will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Iac Inc. bought 450,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of $37.13 per share, with a total value of $16,708,500.00. Following the completion of the transaction, the insider directly owned 66,822,350 shares of the company’s stock, valued at approximately $2,481,113,855.50. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The SEC filing for this sale provides additional information. 3.38% of the stock is owned by insiders.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.