GSA Capital Partners LLP Trims Holdings in MGM Resorts International (NYSE:MGM)

GSA Capital Partners LLP decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 62.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,246 shares of the company’s stock after selling 30,592 shares during the quarter. GSA Capital Partners LLP’s holdings in MGM Resorts International were worth $713,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MGM. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares during the last quarter. Eastern Bank purchased a new stake in MGM Resorts International during the third quarter valued at about $35,000. UMB Bank n.a. lifted its stake in MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter worth about $49,000. 68.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MGM shares. JMP Securities decreased their price target on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Mizuho lowered their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Truist Financial reduced their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.15.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 0.6 %

Shares of NYSE:MGM opened at $37.28 on Monday. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.66 and a beta of 2.23. The stock has a fifty day simple moving average of $38.44 and a two-hundred day simple moving average of $39.82. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.