Wiser Advisor Group LLC Has $31,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Wiser Advisor Group LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 39.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 781 shares of the company’s stock after selling 500 shares during the quarter. Wiser Advisor Group LLC’s holdings in MGM Resorts International were worth $31,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Private Trust Co. NA boosted its holdings in MGM Resorts International by 29.5% in the third quarter. Private Trust Co. NA now owns 3,105 shares of the company’s stock valued at $121,000 after acquiring an additional 708 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in MGM Resorts International in the third quarter valued at approximately $5,101,000. Prosperity Financial Group Inc. raised its holdings in MGM Resorts International by 8.9% in the third quarter. Prosperity Financial Group Inc. now owns 12,062 shares of the company’s stock worth $472,000 after purchasing an additional 986 shares during the period. Fisher Asset Management LLC grew its holdings in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after buying an additional 90,645 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of MGM Resorts International by 1.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock valued at $1,113,000 after buying an additional 459 shares during the period. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

MGM stock traded up $0.32 during trading hours on Monday, reaching $38.12. The stock had a trading volume of 280,922 shares, compared to its average volume of 4,080,670. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a 50-day simple moving average of $38.64 and a 200 day simple moving average of $39.71. The stock has a market capitalization of $11.35 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the firm earned $0.64 EPS. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial reduced their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus increased their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.