MGM Resorts International $MGM Stock Holdings Trimmed by Corient Private Wealth LP

Corient Private Wealth LP lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.7% in the second quarter, HoldingsChannel reports. The fund owned 271,951 shares of the company’s stock after selling 13,340 shares during the period. Corient Private Wealth LP’s holdings in MGM Resorts International were worth $13,009,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International during the second quarter valued at $25,000. Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the period. International Assets Investment Management LLC acquired a new stake in MGM Resorts International in the first quarter worth about $30,000. Optiver Holding B.V. bought a new position in MGM Resorts International in the 1st quarter valued at about $35,000. Finally, Elyxium Wealth LLC acquired a new position in MGM Resorts International during the 4th quarter valued at about $42,000. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MGM shares. Argus boosted their price target on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Citigroup raised their price objective on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Susquehanna boosted their target price on MGM Resorts International from $52.00 to $53.00 and gave the stock a “positive” rating in a report on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.37.

MGM Resorts International Trading Down 1.3%

Shares of NYSE:MGM opened at $42.39 on Friday. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.16 and a beta of 1.31. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. The company has a 50 day moving average price of $45.53 and a 200 day moving average price of $41.28.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 1.96 EPS 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.