Taylor & Morgan Wealth Management LLC Lowers Stake in MGM Resorts International (NYSE:MGM)

Taylor & Morgan Wealth Management LLC cut its stake in MGM Resorts International (NYSE:MGM) by 30.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,108 shares of the company’s stock after selling 2,649 shares during the period. Taylor & Morgan Wealth Management LLC’s holdings in MGM Resorts International were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Ameritas Advisory Services LLC grew its position in shares of MGM Resorts International by 6.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock worth $926,000 after buying an additional 1,585 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $243,000. Empirical Asset Management LLC purchased a new position in shares of MGM Resorts International during the fourth quarter valued at about $3,418,000. Assenagon Asset Management S.A. increased its position in shares of MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares during the period. Finally, Dale Q Rice Investment Management Ltd bought a new position in MGM Resorts International in the fourth quarter worth about $535,000. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Truist Financial reduced their target price 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. Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group dropped their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Barclays decreased their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

Insiders Place Their Bets

In related news, 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 transaction 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 approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is owned by company insiders.

MGM Resorts International Stock Down 0.8 %

MGM stock opened at $32.85 on Friday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 11.73, a P/E/G ratio of 3.04 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The business has a fifty day moving average price of $35.57 and a 200-day moving average price of $38.11.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the company posted $0.64 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that MGM Resorts International will post 2.43 earnings per share for the current fiscal year.

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.