MGM Resorts International (NYSE:MGM) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its stake in MGM Resorts International (NYSE:MGM) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,650 shares of the company’s stock after selling 478 shares during the quarter. Wedbush Securities Inc.’s holdings in MGM Resorts International were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MGM. Assetmark Inc. lifted its position in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International during the 4th quarter worth $28,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at about $46,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of MGM Resorts International in the third quarter valued at about $55,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MGM. Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Mizuho upped their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Truist Financial reduced their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Activity

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 2.2 %

Shares of MGM opened at $26.28 on Tuesday. The company’s 50-day simple moving average is $33.36 and its 200-day simple moving average is $35.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 1 year low of $25.53 and a 1 year high of $47.26. The stock has a market capitalization of $7.44 billion, a PE ratio of 10.95, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

About MGM Resorts International

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.