MGM Resorts International (NYSE:MGM) Shares Sold by Atomi Financial Group Inc.

Atomi Financial Group Inc. reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 25.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,183 shares of the company’s stock after selling 3,134 shares during the quarter. Atomi Financial Group Inc.’s holdings in MGM Resorts International were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Fisher Asset Management LLC grew its position in shares of MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP grew its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after acquiring an additional 123,124 shares during the period. Finally, FMR LLC grew its position in shares of MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after acquiring an additional 79,486 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Mizuho lowered their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial lowered their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International Stock Down 0.7 %

MGM Resorts International stock opened at $32.90 on Friday. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a 50 day moving average price of $35.15 and a 200 day moving average price of $37.75. The company has a market capitalization of $9.79 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share 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 during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts expect that MGM Resorts International will post 2.41 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on 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 completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is owned by 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.