MGM Resorts International $MGM Holdings Cut by American Century Companies Inc.

American Century Companies Inc. decreased its stake in MGM Resorts International (NYSE:MGM) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,854 shares of the company’s stock after selling 1,087 shares during the period. American Century Companies Inc.’s holdings in MGM Resorts International were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGM. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 4.5% during the first quarter. Davis Selected Advisers now owns 20,815,057 shares of the company’s stock valued at $616,958,000 after buying an additional 894,344 shares during the last quarter. Invesco Ltd. raised its stake in MGM Resorts International by 7.7% during the 1st quarter. Invesco Ltd. now owns 6,233,213 shares of the company’s stock valued at $184,752,000 after acquiring an additional 447,870 shares in the last quarter. Southeastern Asset Management Inc. TN boosted its position in MGM Resorts International by 9.6% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,409,147 shares of the company’s stock worth $83,477,000 after acquiring an additional 211,245 shares during the period. Eminence Capital LP bought a new position in shares of MGM Resorts International in the fourth quarter worth $72,408,000. Finally, Helikon Investments Ltd bought a new position in shares of MGM Resorts International in the first quarter worth $54,418,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 60,000 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $32.09, for a total value of $1,925,400.00. Following the completion of the sale, the director directly owned 5,627,478 shares in the company, valued at approximately $180,585,769.02. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM opened at $38.09 on Thursday. The company has a 50-day moving average of $37.07 and a two-hundred day moving average of $33.80. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.87 and a beta of 1.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. MGM Resorts International has a one year low of $25.30 and a one year high of $42.53.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.MGM Resorts International’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 earnings per share. On average, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on MGM shares. Mizuho dropped their price target on shares of MGM Resorts International from $59.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. Seaport Res Ptn cut MGM Resorts International from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. Stifel Nicolaus increased their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Susquehanna boosted their price objective on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Finally, Truist Financial upped their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

MGM Resorts International Company Profile

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.