Dynasty Wealth Management LLC Reduces Stock Holdings in MGM Resorts International (NYSE:MGM)

Dynasty Wealth Management LLC reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,546 shares of the company’s stock after selling 881 shares during the quarter. Dynasty Wealth Management LLC’s holdings in MGM Resorts International were worth $539,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MGM. Empower Advisory Group LLC raised its stake in shares of MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after purchasing an additional 62,997 shares during the period. Goldentree Asset Management LP increased its stake in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International during the 4th quarter worth $2,010,000. Assenagon Asset Management S.A. increased its stake in MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after buying an additional 159,522 shares during the period. Finally, Zacks Investment Management increased its position in shares of MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after acquiring an additional 29,107 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of analyst reports. Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley upped their price target on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Finally, Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 0.3 %

Shares of MGM Resorts International stock opened at $34.76 on Friday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.98 and a beta of 2.20. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business’s 50 day simple moving average is $34.61 and its 200-day simple moving average is $36.77.

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