Factorial Partners LLC Lowers Stake in MGM Resorts International $MGM

Factorial Partners LLC reduced its holdings in shares of MGM Resorts International (NYSE:MGM) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,000 shares of the company’s stock after selling 14,000 shares during the period. MGM Resorts International accounts for about 1.7% of Factorial Partners LLC’s investment portfolio, making the stock its 24th largest holding. Factorial Partners LLC’s holdings in MGM Resorts International were worth $2,591,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Global Retirement Partners LLC lifted its position in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 281 shares during the period. Asset Management One Co. Ltd. raised its holdings in MGM Resorts International by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after buying an additional 313 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in MGM Resorts International by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after buying an additional 397 shares during the last quarter. New York Life Investment Management LLC raised its holdings in MGM Resorts International by 1.5% in the fourth quarter. New York Life Investment Management LLC now owns 27,750 shares of the company’s stock worth $1,013,000 after buying an additional 399 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in MGM Resorts International by 12.1% in the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after buying an additional 421 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings raised shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Mizuho decreased their target price on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Capital One Financial lifted their target price on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Stifel Nicolaus decreased their target price on shares of MGM Resorts International from $50.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Susquehanna boosted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “positive” rating in a report on Monday. One research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.47.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, major shareholder Iac Inc. bought 450,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were acquired at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the completion of the transaction, the insider directly owned 66,822,350 shares of the company’s stock, valued at $2,481,113,855.50. This trade represents a 0.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.38% of the stock is currently owned by company insiders.

Key MGM Resorts International News

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

• Positive Sentiment: People Inc. formally submitted an all-cash proposal to acquire MGM shares it does not already own for $48.30 each, a premium that sparked a strong takeover-driven rally. MGM Resorts International Confirms Receipt of Acquisition Proposal from People Incorporated
• Positive Sentiment: The bid suggests Barry Diller sees MGM’s casino and hospitality assets as undervalued and difficult to replace, which is boosting optimism around a possible deal and a rebound in Las Vegas demand. Barry Diller’s People to put in $18 billion bid for casino giant MGM Resorts
• Positive Sentiment: Analysts and market commentary are pointing to improving Las Vegas trends and fresh takeover speculation as catalysts, reinforcing the stock’s momentum. Barry Diller’s $12.4 billion offer for MGM is a big bet that Vegas is back
• Neutral Sentiment: Susquehanna raised its price target on MGM to $50 from $45 and kept a positive rating, which supports sentiment but is secondary to the takeover news. Susquehanna adjusts price target on MGM Resorts International to $50 from $45

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $50.64 on Tuesday. The firm has a 50 day moving average of $38.28 and a 200 day moving average of $36.39. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 70.33 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.

MGM Resorts International (NYSE:MGM) last announced 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). The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 1.99 earnings per share for the current year.

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.