Gerber Kawasaki Wealth & Investment Management Cuts Holdings in MGM Resorts International $MGM

Gerber Kawasaki Wealth & Investment Management reduced its holdings in MGM Resorts International (NYSE:MGM) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,524 shares of the company’s stock after selling 45,839 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in MGM Resorts International were worth $4,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in MGM Resorts International in the second quarter valued at $25,000. Mendota Financial Group LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth $27,000. Mather Group LLC. purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at about $33,000. Employees Retirement System of Texas acquired a new stake in shares of MGM Resorts International in the second quarter valued at about $45,000. Finally, Assetmark Inc. lifted its stake in shares of MGM Resorts International by 120.3% in the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock valued at $62,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 29th. Zacks Research raised MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Argus lowered their price target on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, January 16th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.94.

MGM Resorts International Stock Down 4.0%

MGM stock opened at $35.63 on Monday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. The company’s 50 day simple moving average is $35.37 and its 200-day simple moving average is $34.95. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16. The firm has a market capitalization of $9.12 billion, a PE ratio of 47.51 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.