Ameritas Advisory Services LLC Cuts Holdings in MGM Resorts International $MGM

Ameritas Advisory Services LLC reduced its position in MGM Resorts International (NYSE:MGM) by 97.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791 shares of the company’s stock after selling 30,691 shares during the period. Ameritas Advisory Services LLC’s holdings in MGM Resorts International were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Davis Selected Advisers lifted its position in MGM Resorts International by 14.4% during the second quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after buying an additional 3,006,052 shares in the last quarter. Helikon Investments Ltd lifted its holdings in shares of MGM Resorts International by 379.9% during the 2nd quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock valued at $302,987,000 after acquiring an additional 6,974,347 shares in the last quarter. Goldentree Asset Management LP lifted its holdings in shares of MGM Resorts International by 20.7% during the 2nd quarter. Goldentree Asset Management LP now owns 5,402,092 shares of the company’s stock valued at $185,778,000 after acquiring an additional 924,810 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in MGM Resorts International by 119.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,212,114 shares of the company’s stock worth $144,855,000 after purchasing an additional 2,293,797 shares during the period. Finally, AQR Capital Management LLC increased its holdings in MGM Resorts International by 6.9% in the 2nd quarter. AQR Capital Management LLC now owns 2,792,225 shares of the company’s stock valued at $96,025,000 after purchasing an additional 180,947 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of recent research reports. Zacks Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. Stifel Nicolaus boosted their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.94.

MGM Resorts International Stock Up 1.0%

MGM stock opened at $36.84 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The firm has a 50 day simple moving average of $35.58 and a 200-day simple moving average of $34.92. The company has a market capitalization of $9.42 billion, a P/E ratio of 49.12 and a beta of 1.44. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $40.16.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.96. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

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