Corient Private Wealth LLC Has $11.36 Million Holdings in MGM Resorts International $MGM

Corient Private Wealth LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,167 shares of the company’s stock after purchasing an additional 32,885 shares during the quarter. Corient Private Wealth LLC owned 0.12% of MGM Resorts International worth $11,355,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. CYBER HORNET ETFs LLC bought a new position in shares of MGM Resorts International in the 2nd quarter valued at about $25,000. Global Retirement Partners LLC raised its holdings in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares in the last quarter. Elyxium Wealth LLC acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $42,000. City Holding Co. acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $44,000. Finally, Stance Capital LLC bought a new position in MGM Resorts International in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Susquehanna boosted their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a research report on Monday, June 1st. Morgan Stanley reissued an “underweight” rating on shares of MGM Resorts International in a report on Monday, June 1st. Jefferies Financial Group cut shares of MGM Resorts International from a “buy” rating to a “hold” rating and decreased their target price for the company from $50.00 to $44.00 in a research note on Friday, May 1st. UBS Group set a $49.00 target price on shares of MGM Resorts International in a report on Monday, June 15th. Finally, Capital One Financial upped their price target on shares of 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, ten have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.18.

MGM Resorts International Stock Performance

NYSE MGM opened at $47.12 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $12.06 billion, a P/E ratio of 65.45 and a beta of 1.31. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The firm has a 50-day moving average price of $41.89 and a two-hundred day moving average price of $38.07.

MGM Resorts International (NYSE:MGM) last announced its 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). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 1.95 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.38% of the company’s stock.

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.