SG Americas Securities LLC Sells 465,522 Shares of MGM Resorts International $MGM

SG Americas Securities LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 76.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,642 shares of the company’s stock after selling 465,522 shares during the period. SG Americas Securities LLC owned 0.06% of MGM Resorts International worth $5,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MGM. Rockefeller Capital Management L.P. boosted its holdings in shares of MGM Resorts International by 3.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 14,580 shares of the company’s stock valued at $532,000 after buying an additional 549 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of MGM Resorts International by 11.8% in the 4th quarter. Corient Private Wealth LLC now owns 311,167 shares of the company’s stock worth $11,355,000 after acquiring an additional 32,885 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of MGM Resorts International by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 352,761 shares of the company’s stock worth $12,876,000 after acquiring an additional 26,832 shares in the last quarter. AG Campbell Advisory LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $109,000. Finally, Beacon Pointe Advisors LLC lifted its position in MGM Resorts International by 3.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 16,645 shares of the company’s stock valued at $607,000 after acquiring an additional 496 shares during the period. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the topic of a number of recent research reports. Susquehanna upped their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a report on Monday, June 1st. 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. Capital One Financial upped their price target on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. raised their price objective on MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $49.00 price objective (up from $48.00) on shares of MGM Resorts International in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.18.

MGM Resorts International Price Performance

NYSE MGM opened at $49.15 on Monday. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59. The stock has a 50-day moving average of $42.32 and a 200 day moving average of $38.25. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 68.27 and a beta of 1.31. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33.

MGM Resorts International (NYSE:MGM) last posted its earnings results 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). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the company posted $0.69 EPS. MGM Resorts International’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that MGM Resorts International will post 1.95 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.38% of the company’s stock.

MGM Resorts International 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.