MGM Resorts International $MGM Stock Holdings Decreased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its stake in MGM Resorts International (NYSE:MGM) by 25.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 682,023 shares of the company’s stock after selling 232,017 shares during the quarter. Artisan Partners Limited Partnership’s holdings in MGM Resorts International were worth $23,639,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MGM. CYBER HORNET ETFs LLC acquired a new stake in MGM Resorts International during the second quarter valued at approximately $25,000. Mendota Financial Group LLC bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $33,000. Employees Retirement System of Texas acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at approximately $45,000. Finally, Assetmark Inc. lifted its stake in MGM Resorts International by 120.3% during the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock worth $62,000 after purchasing an additional 990 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGM has been the subject of several recent research reports. Susquehanna lowered their target price on shares of MGM Resorts International from $46.00 to $45.00 and set a “positive” rating for the company in a research note on Friday, February 6th. Argus decreased their price target on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, November 14th. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Finally, Citigroup upped their target price on MGM Resorts International from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $41.94.

MGM Resorts International Trading Down 2.1%

MGM Resorts International stock opened at $36.83 on Friday. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 49.11 and a beta of 1.44. The firm has a 50-day moving average price of $35.48 and a two-hundred day moving average price of $34.96.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.96. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter in the previous year, the company posted $0.45 earnings per share. Sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the completion of the purchase, the insider owned 65,822,350 shares in the company, valued at $2,389,351,305. This trade represents a 1.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.06% of the stock is 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.