Thrivent Financial for Lutherans Acquires 34,463 Shares of MGM Resorts International $MGM

Thrivent Financial for Lutherans boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 423.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 42,594 shares of the company’s stock after acquiring an additional 34,463 shares during the period. Thrivent Financial for Lutherans’ holdings in MGM Resorts International were worth $1,476,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in MGM. Corient Private Wealth LLC grew its position in shares of MGM Resorts International by 356.6% during the 2nd quarter. Corient Private Wealth LLC now owns 528,526 shares of the company’s stock worth $18,176,000 after buying an additional 412,767 shares during the period. American Assets Inc. boosted its position in shares of MGM Resorts International by 66.7% during the second quarter. American Assets Inc. now owns 30,000 shares of the company’s stock worth $950,000 after purchasing an additional 12,000 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $6,351,000. Wealth Enhancement Advisory Services LLC increased its position in shares of MGM Resorts International by 109.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock valued at $4,276,000 after buying an additional 67,542 shares in the last quarter. Finally, Permanent Capital Management LP bought a new position in MGM Resorts International during the third quarter worth about $738,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 6.1%

Shares of MGM Resorts International stock opened at $34.16 on Friday. The stock has a market cap of $9.34 billion, a P/E ratio of 45.54 and a beta of 1.44. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32. The business’s 50 day moving average is $35.70 and its 200-day moving average is $34.99.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same period in the previous year, the company earned $0.45 earnings per share. Equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, major shareholder Iac Inc. bought 1,098,748 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the purchase, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.06% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of research analyst reports. Mizuho set a $62.00 price target on MGM Resorts International in a research report on Thursday, October 30th. Citigroup raised their price objective on shares of MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Barclays set a $37.00 price target on MGM Resorts International in a report on Friday, February 6th. Finally, Zacks Research raised MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, MGM Resorts International currently has a consensus rating of “Hold” and an average price target of $42.50.

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.