Thrivent Financial for Lutherans Acquires 34,463 Shares of MGM Resorts International $MGM

Thrivent Financial for Lutherans boosted its stake in shares of MGM Resorts International (NYSE:MGM) by 423.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,594 shares of the company’s stock after purchasing an additional 34,463 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MGM Resorts International were worth $1,476,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MGM. CYBER HORNET ETFs LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $25,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International during the third quarter worth approximately $27,000. Mather Group LLC. acquired a new position in shares of MGM Resorts International in the third quarter valued at approximately $33,000. Employees Retirement System of Texas acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $45,000. Finally, Assetmark Inc. lifted its holdings in MGM Resorts International by 120.3% during the 2nd 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 owned by institutional investors.

MGM Resorts International Price Performance

MGM stock opened at $34.16 on Friday. The company’s 50-day moving average price is $35.70 and its two-hundred day moving average price is $34.99. The firm has a market cap of $9.34 billion, a P/E ratio of 45.54 and a beta of 1.44. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $41.32.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same quarter last year, the business posted $0.45 EPS. On average, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on MGM. Susquehanna decreased their price objective on MGM Resorts International from $46.00 to $45.00 and set a “positive” rating on the stock in a report on Friday, February 6th. Zacks Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Argus dropped their price objective on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.50.

Insider Buying and Selling at MGM Resorts International

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 shares were bought at an average price of $36.30 per share, for a total transaction of $39,884,552.40. Following the purchase, the insider owned 65,822,350 shares in the company, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.06% of the company’s stock.

MGM Resorts International Company 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.