Cwm LLC Purchases 135,896 Shares of MGM Resorts International $MGM

Cwm LLC boosted its position in shares of MGM Resorts International (NYSE:MGM) by 200.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,725 shares of the company’s stock after purchasing an additional 135,896 shares during the quarter. Cwm LLC’s holdings in MGM Resorts International were worth $7,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at $25,000. Mendota Financial Group LLC bought a new stake in shares of MGM Resorts International in the third quarter worth about $27,000. Bayforest Capital Ltd acquired a new stake in shares of MGM Resorts International during the first quarter worth about $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after purchasing an additional 529 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at approximately $45,000. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on MGM shares. The Goldman Sachs Group restated a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a report on Monday, December 15th. Truist Financial cut their price objective on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Macquarie lowered their target price on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Capital One Financial dropped their price target on MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. Finally, Citigroup reduced their price objective on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating for the company in a research report on Thursday, October 30th. Twelve equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.31.

MGM Resorts International Trading Down 1.2%

Shares of NYSE:MGM opened at $36.71 on Wednesday. The stock has a market capitalization of $10.04 billion, a PE ratio of 229.43, a price-to-earnings-growth ratio of 2.45 and a beta of 1.48. The company’s 50-day moving average price is $34.32 and its two-hundred day moving average price is $35.25. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.23 and a quick ratio of 1.19. MGM Resorts International has a one year low of $25.30 and a one year high of $41.32.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 17.23%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm posted $0.54 EPS. MGM Resorts International’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Iac Inc. acquired 1,098,748 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the acquisition, the insider owned 65,822,350 shares in the company, valued at $2,389,351,305. This represents a 1.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.06% of the stock is currently owned by corporate insiders.

About MGM Resorts International

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.