MGM Resorts International (NYSE:MGM) Stock Holdings Lowered by Caprock Group LLC

Caprock Group LLC trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 20.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,347 shares of the company’s stock after selling 3,387 shares during the period. Caprock Group LLC’s holdings in MGM Resorts International were worth $522,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter worth $28,000. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its stake in MGM Resorts International by 60.7% during the first 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. Eastern Bank acquired a new position in shares of MGM Resorts International in the third quarter worth about $35,000. Finally, UMB Bank n.a. increased its position in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by insiders.

MGM Resorts International Price Performance

NYSE MGM opened at $37.80 on Friday. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The stock’s 50-day moving average is $38.61 and its two-hundred day moving average is $39.74. The firm has a market cap of $11.25 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 2.66 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

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 return on equity of 25.84% and a net margin of 5.23%. 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 firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Barclays dropped their price target on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Truist Financial decreased their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Mizuho dropped their target price 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. Finally, Susquehanna raised their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $53.15.

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.