MGM Resorts International (NYSE:MGM) Shares Sold by Cerity Partners LLC

Cerity Partners LLC reduced its position in MGM Resorts International (NYSE:MGM) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,881 shares of the company’s stock after selling 5,618 shares during the quarter. Cerity Partners LLC’s holdings in MGM Resorts International were worth $1,285,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International in the 3rd quarter valued at $28,000. Eastern Bank acquired a new position in MGM Resorts International in the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC raised its stake in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Mizuho lowered their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Finally, Truist Financial lowered their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Price Performance

MGM stock opened at $37.51 on Wednesday. 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 capitalization of $11.17 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.73 and a beta of 2.20. The business’s 50-day moving average is $38.73 and its two-hundred day moving average is $39.57. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued 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 return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business posted $0.64 EPS. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

About MGM Resorts International

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.