Fisher Asset Management LLC lowered its stake in shares of MGM Resorts International (NYSE:MGM – Free Report) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,454 shares of the company’s stock after selling 19,572 shares during the quarter. Fisher Asset Management LLC’s holdings in MGM Resorts International were worth $1,732,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MGM. New Age Alpha Advisors LLC raised its stake in shares of MGM Resorts International by 24.8% during the 4th quarter. New Age Alpha Advisors LLC now owns 95,668 shares of the company’s stock worth $3,491,000 after purchasing an additional 19,025 shares during the period. Hantz Financial Services Inc. raised its stake in shares of MGM Resorts International by 46.8% during the 4th quarter. Hantz Financial Services Inc. now owns 3,571 shares of the company’s stock worth $130,000 after purchasing an additional 1,139 shares during the period. Todd Asset Management LLC raised its stake in shares of MGM Resorts International by 9.2% during the 4th quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock worth $25,890,000 after purchasing an additional 59,691 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of MGM Resorts International by 9.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 7,347 shares of the company’s stock worth $268,000 after purchasing an additional 629 shares during the period. Finally, Americana Partners LLC raised its stake in shares of MGM Resorts International by 14.3% during the 4th quarter. Americana Partners LLC now owns 9,418 shares of the company’s stock worth $344,000 after purchasing an additional 1,180 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Mizuho lowered their target price on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Stifel Nicolaus lowered their target price on MGM Resorts International from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. UBS Group lowered their target price on MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Finally, Capital One Financial lifted their target price on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.18.
MGM Resorts International Stock Up 1.6%
Shares of NYSE MGM opened at $43.60 on Friday. MGM Resorts International has a one year low of $29.18 and a one year high of $44.28. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The business’s fifty day moving average price is $38.01 and its 200-day moving average price is $36.24. The stock has a market capitalization of $11.15 billion, a PE ratio of 60.55 and a beta of 1.28.
MGM Resorts International (NYSE:MGM – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 1.99 EPS for the current year.
Insider Buying and Selling
In related news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Iac Inc. acquired 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average cost of $37.13 per share, for a total transaction of $16,708,500.00. Following the acquisition, the insider directly owned 66,822,350 shares in the company, valued at $2,481,113,855.50. This represents a 0.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.38% of the stock is currently owned by insiders.
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.
Featured Stories
- Five stocks we like better than MGM Resorts International
- Shares Fall, Targets Rise—Markets and Analysts Diverge on Synopsys
- Salesforce Stock Finds Support as AI Momentum Builds
- Dollar Tree Keeps Winning After Family Dollar Divorce
- Apple’s Agentic AI Plans Could Be Its Biggest Growth Story Yet
Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM – Free Report).
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.
