MGM Resorts International $MGM Stake Cut by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 9.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 392,766 shares of the company’s stock after selling 39,197 shares during the quarter. Legal & General Group Plc’s holdings in MGM Resorts International were worth $14,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MGM. Davis Selected Advisers increased its holdings in shares of MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. boosted its holdings in shares of MGM Resorts International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock worth $867,805,000 after purchasing an additional 205,127 shares during the period. AQR Capital Management LLC grew its position in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares in the last quarter. Finally, Invesco Ltd. increased its stake in MGM Resorts International by 3.4% in the 3rd quarter. Invesco Ltd. now owns 5,940,465 shares of the company’s stock valued at $205,897,000 after buying an additional 194,114 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Iac Inc. acquired 550,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $37.30 per share, for a total transaction of $20,515,000.00. Following the completion of the purchase, the insider directly owned 66,372,350 shares in the company, valued at $2,475,688,655. This represents a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGM shares. UBS Group decreased their target price on shares of MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. Barclays upped their price target on shares of MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, April 30th. Morgan Stanley restated an “underweight” rating on shares of MGM Resorts International in a research note on Monday. Finally, Capital One Financial upped their target price on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International presently has an average rating of “Hold” and an average price target of $49.12.

MGM Resorts International Stock Performance

Shares of MGM opened at $48.29 on Wednesday. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 67.08 and a beta of 1.31. The company’s fifty day moving average is $38.28 and its 200-day moving average is $36.39. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. Equities analysts expect that MGM Resorts International will post 1.99 EPS for the current fiscal year.

More MGM Resorts International News

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Deutsche Bank raised its price target on MGM Resorts International to $55 and reiterated a buy rating, signaling more upside if the deal process or fundamentals improve.
• Positive Sentiment: Industry coverage highlighted improving gaming trends, including strong online betting demand and Macau revenue, which could support MGM’s business even if the buyout does not proceed. Article: 4 Gaming Stocks Worth Watching Despite Industry Headwinds
• Positive Sentiment: BetMGM announced a new sweepstakes partnership with Marriott Bonvoy, adding another marketing push for its sports betting and iGaming platform. Article: BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes
• Neutral Sentiment: Johnson Fistel launched an investigation into whether MGM’s board breached fiduciary duties in connection with the potential go-private deal, which adds uncertainty but does not yet change the deal outcome. Article: Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.