MGM Resorts International (NYSE:MGM) Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 95.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,354 shares of the company's stock after selling 274,589 shares during the quarter. KBC Group NV's holdings in MGM Resorts International were worth $483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. increased 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 period. Envestnet Portfolio Solutions Inc. increased its holdings in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock worth $1,018,000 after buying an additional 278 shares during the period. HB Wealth Management LLC increased its holdings in MGM Resorts International by 6.3% in the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock worth $219,000 after buying an additional 293 shares during the period. US Bancorp DE increased its holdings in MGM Resorts International by 1.3% in the 1st quarter. US Bancorp DE now owns 23,558 shares of the company's stock worth $1,112,000 after buying an additional 298 shares during the period. Finally, Quent Capital LLC grew its stake in shares of MGM Resorts International by 14.6% during the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company's stock worth $93,000 after purchasing an additional 304 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Price Performance

MGM stock traded up $0.11 during midday trading on Tuesday, reaching $37.26. The stock had a trading volume of 2,445,755 shares, compared to its average volume of 4,111,428. The company's fifty day simple moving average is $38.53 and its 200 day simple moving average is $39.76. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a market cap of $11.09 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 2.66 and a beta of 2.23. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share 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 company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 EPS. As a group, sell-side analysts predict that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. JMP Securities dropped their price objective 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. Truist Financial dropped their price objective on shares of 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. Morgan Stanley raised their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Finally, Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research note on Thursday, August 1st. Four equities research 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 an average rating of "Moderate Buy" and an average target price of $53.15.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm'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 of the company's stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.83% of the company's stock.

About MGM Resorts International

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.