MGM Resorts International (NYSE:MGM) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 44.0% in the third quarter, Holdings Channel reports. The institutional investor owned 42,628 shares of the company’s stock after selling 33,455 shares during the quarter. MML Investors Services LLC’s holdings in MGM Resorts International were worth $1,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $35,000. UMB Bank n.a. increased its holdings in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MGM has been the subject of several research reports. JMP Securities dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Truist Financial dropped their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $35.37 on Wednesday. The stock has a market cap of $10.53 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The company has a fifty day simple moving average of $38.25 and a 200-day simple moving average of $39.35. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (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 return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

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.