MGM Resorts International $MGM Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its position in shares of MGM Resorts International (NYSE:MGM) by 24.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,857 shares of the company’s stock after selling 13,249 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in MGM Resorts International were worth $1,454,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in MGM Resorts International by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after purchasing an additional 340,629 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of MGM Resorts International by 109.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock valued at $4,276,000 after purchasing an additional 67,542 shares during the period. TD Asset Management Inc raised its holdings in shares of MGM Resorts International by 146.9% during the third quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock valued at $3,222,000 after buying an additional 55,300 shares during the last quarter. Savant Capital LLC raised its holdings in shares of MGM Resorts International by 100.0% during the third quarter. Savant Capital LLC now owns 62,892 shares of the company’s stock valued at $2,180,000 after buying an additional 31,446 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of MGM Resorts International by 423.8% during the third quarter. Thrivent Financial for Lutherans now owns 42,594 shares of the company’s stock worth $1,476,000 after buying an additional 34,463 shares during the period. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares of the company’s stock, valued at $183,275,206.06. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Iac Inc. purchased 450,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were bought at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the purchase, the insider owned 66,822,350 shares in the company, valued at $2,481,113,855.50. This represents a 0.68% 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.

MGM Resorts International Price Performance

Shares of MGM opened at $37.94 on Wednesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The firm has a market cap of $9.71 billion, a PE ratio of 52.69 and a beta of 1.28. The firm’s 50 day moving average price is $37.17 and its 200 day moving average price is $35.47. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $40.94.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. As a group, research analysts expect that MGM Resorts International will post 2.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MGM shares. Barclays boosted their price objective on MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price target on MGM Resorts International from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, April 30th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, February 11th. Weiss Ratings lowered MGM Resorts International from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of MGM Resorts International in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.12.

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.