MYDA Advisors LLC Has $7.04 Million Stake in MGM Resorts International $MGM

MYDA Advisors LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,000 shares of the company’s stock after selling 48,000 shares during the quarter. MGM Resorts International accounts for 1.3% of MYDA Advisors LLC’s investment portfolio, making the stock its 16th largest holding. MYDA Advisors LLC owned 0.08% of MGM Resorts International worth $7,043,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MGM. Vanguard Group Inc. raised its position in MGM Resorts International by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after buying an additional 340,629 shares during the last quarter. TD Asset Management Inc raised its position in MGM Resorts International by 146.9% in the 3rd quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock valued at $3,222,000 after buying an additional 55,300 shares during the last quarter. Envestnet Asset Management Inc. raised its position in MGM Resorts International by 31.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 510,715 shares of the company’s stock valued at $17,701,000 after buying an additional 120,800 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in MGM Resorts International in the 3rd quarter valued at $2,184,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in MGM Resorts International in the 3rd quarter valued at $1,014,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.1%

Shares of MGM Resorts International stock opened at $48.91 on Monday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The firm has a market cap of $12.51 billion, a PE ratio of 67.93 and a beta of 1.31. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The stock has a fifty day moving average price of $40.27 and a 200-day moving average price of $37.39.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Equities research analysts anticipate that MGM Resorts International will post 1.95 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MGM. UBS Group raised their target price on MGM Resorts International from $39.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Citigroup decreased their target price on MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Susquehanna raised their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “positive” rating in a research report on Monday, June 1st. Finally, Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and raised their target price for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Hold” and an average target price of $50.18.

Insider Buying and Selling at MGM Resorts International

In other news, major shareholder Iac Inc. purchased 550,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $37.30 per share, for a total transaction of $20,515,000.00. Following the purchase, the insider owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. The trade was a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. Additional details regarding this sale are available in the official SEC disclosure. 3.38% of the stock is currently owned by corporate insiders.

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.