Boyar Asset Management Inc. Has $971,000 Holdings in MGM Resorts International (NYSE:MGM)

Boyar Asset Management Inc. trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,831 shares of the company’s stock after selling 800 shares during the quarter. Boyar Asset Management Inc.’s holdings in MGM Resorts International were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MGM. Fisher Asset Management LLC boosted its holdings in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC acquired a new position in MGM Resorts International in the third quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays cut their price target on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Morgan Stanley boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities reduced their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Truist Financial lowered their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.85.

Insider Activity

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

MGM stock opened at $36.94 on Thursday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The business’s fifty day moving average is $38.51 and its 200-day moving average is $39.41. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market cap of $11.00 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 3.13 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.48 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.