Pallas Capital Advisors LLC Has $471,000 Stock Holdings in MGM Resorts International $MGM

Pallas Capital Advisors LLC decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 54.5% during the 4th quarter, Holdings Channel reports. The firm owned 12,894 shares of the company’s stock after selling 15,463 shares during the quarter. Pallas Capital Advisors LLC’s holdings in MGM Resorts International were worth $471,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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. Vanguard Group Inc. lifted its position in shares of MGM Resorts International by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after acquiring an additional 340,629 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of MGM Resorts International by 109.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock valued at $4,276,000 after acquiring an additional 67,542 shares during the period. TD Asset Management Inc boosted its stake in MGM Resorts International by 146.9% during the third quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock worth $3,222,000 after acquiring an additional 55,300 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in MGM Resorts International during the second quarter worth $6,351,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Up 3.7%

MGM Resorts International stock opened at $36.94 on Wednesday. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $40.16. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 49.26 and a beta of 1.38. The firm’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $34.82. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, 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 MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of MGM Resorts International stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. The trade was a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iac Inc. acquired 550,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the acquisition, the insider directly owned 66,372,350 shares in the company, valued at approximately $2,475,688,655. This represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. 3.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $33.00 price target on shares of MGM Resorts International in a research note on Monday, December 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Citigroup boosted their target price on MGM Resorts International from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Barclays set a $37.00 price target on MGM Resorts International in a research note on Friday, February 6th. Finally, Stifel Nicolaus raised their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.94.

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.