MGM Resorts International (NYSE:MGM) Shares Sold by Wedmont Private Capital

Wedmont Private Capital lowered its stake in MGM Resorts International (NYSE:MGM) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,771 shares of the company’s stock after selling 984 shares during the quarter. Wedmont Private Capital’s holdings in MGM Resorts International were worth $216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank lifted its position in shares of MGM Resorts International by 4.3% during the 4th quarter. Czech National Bank now owns 49,063 shares of the company’s stock valued at $1,700,000 after acquiring an additional 2,043 shares during the last quarter. Modus Advisors LLC bought a new stake in MGM Resorts International in the fourth quarter worth approximately $46,000. Oddo BHF Asset Management Sas bought a new position in MGM Resorts International during the third quarter valued at about $1,886,000. Synovus Financial Corp acquired a new stake in MGM Resorts International in the 3rd quarter worth approximately $309,000. Finally, Tidal Investments LLC raised its holdings in MGM Resorts International by 269.7% in the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after acquiring an additional 24,111 shares during the period. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MGM. Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays decreased their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Truist Financial decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $32.85 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The stock’s 50-day moving average is $35.57 and its 200-day moving average is $38.14.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that MGM Resorts International will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.