Nisa Investment Advisors LLC Has $4.94 Million Stake in MGM Resorts International $MGM

Nisa Investment Advisors LLC lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,536 shares of the company’s stock after selling 1,250 shares during the period. Nisa Investment Advisors LLC owned about 0.05% of MGM Resorts International worth $4,936,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MGM. GAMMA Investing LLC boosted its stake in shares of MGM Resorts International by 10.6% during the 1st quarter. GAMMA Investing LLC now owns 6,477 shares of the company’s stock valued at $192,000 after buying an additional 619 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 455 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of MGM Resorts International by 52.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,625 shares of the company’s stock valued at $2,894,000 after buying an additional 33,403 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of MGM Resorts International by 18.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,280 shares of the company’s stock valued at $889,000 after buying an additional 4,655 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of MGM Resorts International by 0.8% during the 1st quarter. Amalgamated Bank now owns 43,933 shares of the company’s stock valued at $1,302,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction on Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the transaction, the director owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM opened at $31.99 on Wednesday. The company has a market capitalization of $8.71 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67. MGM Resorts International has a one year low of $25.30 and a one year high of $42.53. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The company’s fifty day moving average price is $35.04 and its 200 day moving average price is $34.37.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.58 by $0.21. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. As a group, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MGM. Stifel Nicolaus decreased their target price on shares of MGM Resorts International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Citigroup raised shares of MGM Resorts International from a “hold” rating to a “strong-buy” rating and lifted their price objective for the company from $55.00 to $57.00 in a research note on Wednesday, July 9th. Truist Financial reduced their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday, October 8th. Finally, Susquehanna lifted their price objective on shares of MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.50.

MGM Resorts International Company 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.