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

GSA Capital Partners LLP lowered its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 62.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 18,246 shares of the company's stock after selling 30,592 shares during the period. GSA Capital Partners LLP's holdings in MGM Resorts International were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. Eastern Bank purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. UMB Bank n.a. boosted its holdings in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after buying an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 5,738,478 shares of the company's stock, valued at $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Trading Down 0.3 %

MGM traded down $0.13 during trading hours on Monday, reaching $37.15. The company's stock had a trading volume of 3,294,166 shares, compared to its average volume of 4,118,896. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The stock has a market cap of $11.06 billion, a PE ratio of 13.27, a P/E/G ratio of 2.66 and a beta of 2.23. The business's 50-day moving average is $38.48 and its 200-day moving average is $39.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. As a group, equities research analysts predict that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MGM. UBS Group upgraded MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a report on Thursday, August 1st. Truist Financial lowered their price objective on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. JMP Securities lowered their price objective on MGM Resorts International from $56.00 to $54.00 and set a "market outperform" rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus boosted their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average price target of $53.15.

MGM Resorts International Company 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.