N.E.W. Advisory Services LLC Sells 1,300 Shares of MGM Resorts International (NYSE:MGM)

N.E.W. Advisory Services LLC decreased its stake in shares of MGM Resorts International (NYSE:MGM) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,841 shares of the company’s stock after selling 1,300 shares during the period. N.E.W. Advisory Services LLC’s holdings in MGM Resorts International were worth $202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $97,725,000. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in MGM Resorts International in the third quarter worth $17,622,000. ArrowMark Colorado Holdings LLC raised its holdings in MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after purchasing an additional 442,975 shares in the last quarter. Finally, KBC Group NV lifted its position in MGM Resorts International by 3,041.1% during the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after buying an additional 375,693 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.2 %

MGM opened at $34.49 on Friday. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The firm’s 50 day simple moving average is $34.80 and its two-hundred day simple moving average is $37.34. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $10.27 billion, a PE ratio of 12.32, a PEG ratio of 2.89 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last released 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). The company 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%. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Analyst Ratings Changes

MGM has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. 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 report on Friday, December 13th. Finally, Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.13% of the company’s stock.

MGM Resorts International Company 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.