GSA Capital Partners LLP Lowers Stock Holdings in MGM Resorts International (NYSE:MGM)

GSA Capital Partners LLP lessened its holdings in MGM Resorts International (NYSE:MGM) by 62.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 18,246 shares of the company’s stock after selling 30,592 shares during the quarter. GSA Capital Partners LLP’s holdings in MGM Resorts International were worth $713,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the second quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International in the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares in the last quarter. UMB Bank n.a. grew its holdings in MGM Resorts International by 33.3% during 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. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $49,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Down 0.6 %

Shares of NYSE:MGM opened at $37.28 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $38.44 and its 200 day moving average is $39.82. The stock has a market cap of $11.10 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.66 and a beta of 2.23. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last announced 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). The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. Sell-side analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MGM shares. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Susquehanna boosted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. JMP Securities dropped their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. Finally, Truist Financial decreased their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

Insider Buying and Selling 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 on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.13% of the company’s stock.

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.