MGM Resorts International $MGM Shares Sold by Whitebox Advisors LLC

Whitebox Advisors LLC decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,869 shares of the company’s stock after selling 99,181 shares during the quarter. Whitebox Advisors LLC’s holdings in MGM Resorts International were worth $6,916,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International in the second quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its position in shares of 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 buying an additional 281 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International in the 1st quarter valued at $30,000. Elyxium Wealth LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $42,000. Finally, City Holding Co. purchased a new position in shares of MGM Resorts International in the 4th quarter valued at $44,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGM. KeyCorp upgraded shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target on the stock in a research note on Monday, April 27th. Citigroup raised their price objective on MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Weiss Ratings upgraded MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Susquehanna boosted their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “positive” rating in a report on Monday, June 1st. Finally, Morgan Stanley reissued an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.31.

MGM Resorts International Trading Up 0.2%

Shares of MGM Resorts International stock opened at $45.61 on Monday. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market capitalization of $11.67 billion, a P/E ratio of 63.35 and a beta of 1.29. The company’s fifty day moving average is $45.61 and its two-hundred day moving average is $39.64.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the company posted $0.69 earnings per share. MGM Resorts International’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that MGM Resorts International will post 1.98 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.38% of the stock is owned by company insiders.

MGM Resorts International 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.