Burney Co. Cuts Stock Position in MGM Resorts International (NYSE:MGM)

Burney Co. decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 45.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,326 shares of the company’s stock after selling 13,506 shares during the period. Burney Co.’s holdings in MGM Resorts International were worth $566,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at about $296,000. Edgestream Partners L.P. purchased a new stake in MGM Resorts International during the second quarter valued at approximately $766,000. Amalgamated Bank lifted its stake in shares of MGM Resorts International by 0.8% in the 2nd quarter. Amalgamated Bank now owns 79,511 shares of the company’s stock valued at $3,533,000 after purchasing an additional 622 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of MGM Resorts International by 8.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,768 shares of the company’s stock worth $1,852,000 after purchasing an additional 3,255 shares during the period. Finally, XTX Topco Ltd increased its position in shares of MGM Resorts International by 140.3% during the 2nd quarter. XTX Topco Ltd now owns 30,402 shares of the company’s stock valued at $1,351,000 after purchasing an additional 17,751 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MGM shares. Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Truist Financial reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday. Finally, Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Stock Down 0.8 %

NYSE:MGM opened at $32.85 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a 50-day moving average of $35.57 and a 200 day moving average of $38.14. The firm has a market cap of $9.78 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21.

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 the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during 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 in the previous year, the company posted $0.64 EPS. As a group, research analysts anticipate that MGM Resorts International will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.13% of the company’s stock.

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.