MYDA Advisors LLC Sells 48,000 Shares of MGM Resorts International $MGM

MYDA Advisors LLC lowered its stake in MGM Resorts International (NYSE:MGM) by 19.9% in the 4th quarter, Holdings Channel reports. The firm owned 193,000 shares of the company’s stock after selling 48,000 shares during the quarter. MGM Resorts International accounts for approximately 1.3% of MYDA Advisors LLC’s portfolio, making the stock its 16th largest position. MYDA Advisors LLC’s holdings in MGM Resorts International were worth $7,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International in the 2nd quarter worth about $25,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the period. Elyxium Wealth LLC bought a new position in MGM Resorts International in the 4th quarter worth about $42,000. City Holding Co. bought a new position in MGM Resorts International in the 4th quarter worth about $44,000. Finally, Stance Capital LLC bought a new position in MGM Resorts International in the 3rd quarter worth about $46,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $48.91 on Monday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The stock has a 50 day moving average price of $40.27 and a two-hundred day moving average price of $37.39. The company has a market capitalization of $12.51 billion, a P/E ratio of 67.93 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts expect that MGM Resorts International will post 1.95 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Iac Inc. bought 450,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 24th. The shares were acquired at an average cost of $37.13 per share, for a total transaction of $16,708,500.00. Following the completion of the purchase, the insider directly owned 66,822,350 shares of the company’s stock, valued at approximately $2,481,113,855.50. This trade represents a 0.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group raised their target price on MGM Resorts International from $39.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Capital One Financial raised 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. Mizuho cut their target price on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. boosted their target price on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.18.

About MGM Resorts International

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.