Yousif Capital Management LLC Has $729,000 Stock Position in MGM Resorts International $MGM

Yousif Capital Management LLC decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,195 shares of the company’s stock after selling 2,116 shares during the quarter. Yousif Capital Management LLC’s holdings in MGM Resorts International were worth $729,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vontobel Holding Ltd. increased its stake in shares of MGM Resorts International by 74.6% during the 1st quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company’s stock worth $646,000 after purchasing an additional 9,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of MGM Resorts International by 60.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company’s stock worth $1,830,000 after purchasing an additional 23,234 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of MGM Resorts International by 46.3% during the 1st quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company’s stock worth $1,045,000 after purchasing an additional 11,152 shares during the last quarter. Key Colony Management LLC increased its stake in shares of MGM Resorts International by 9.8% during the 2nd quarter. Key Colony Management LLC now owns 615,000 shares of the company’s stock worth $21,150,000 after purchasing an additional 55,000 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of MGM Resorts International by 3.7% during the 1st quarter. D.A. Davidson & CO. now owns 303,470 shares of the company’s stock worth $8,995,000 after purchasing an additional 10,690 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MGM shares. Susquehanna increased their price target on shares of MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Truist Financial decreased their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday. Macquarie decreased their price objective on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. UBS Group decreased their price objective on shares of MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MGM Resorts International from $43.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Insider Buying and Selling at MGM Resorts International

In other news, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the transaction, the insider directly owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. This trade represents a 65.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director directly owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. The trade was a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $32.68 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 1.43 and a beta of 1.67. The company’s fifty day moving average is $35.33 and its two-hundred day moving average is $34.14. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $42.53.

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

MGM Resorts International 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.