MGM Resorts International $MGM Shares Sold by Aberdeen Group plc

Aberdeen Group plc trimmed its holdings in MGM Resorts International (NYSE:MGM) by 92.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,702 shares of the company’s stock after selling 151,515 shares during the quarter. Aberdeen Group plc’s holdings in MGM Resorts International were worth $464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MGM Resorts International by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock worth $582,000 after buying an additional 951 shares during the last quarter. NewEdge Advisors LLC raised its stake in MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after acquiring an additional 421 shares in the last quarter. Woodline Partners LP lifted its position in MGM Resorts International by 39.1% in the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after acquiring an additional 5,312 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in MGM Resorts International by 0.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock valued at $1,917,000 after acquiring an additional 399 shares in the last quarter. Finally, Ethic Inc. boosted its stake in MGM Resorts International by 8.8% in the second quarter. Ethic Inc. now owns 18,328 shares of the company’s stock valued at $630,000 after acquiring an additional 1,480 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MGM shares. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Barclays set a $37.00 price target on MGM Resorts International in a research report on Friday, February 6th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Argus lowered their target price on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Finally, Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Hold” and an average price target of $41.94.

Insider Buying and Selling

In related news, major shareholder Iac Inc. bought 1,098,748 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.06% of the company’s stock.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $36.84 on Monday. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $40.16. The company has a 50-day moving average price of $35.58 and a 200 day moving average price of $34.92. The company has a market cap of $9.42 billion, a P/E ratio of 49.12 and a beta of 1.44. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

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

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.