Amalgamated Bank Sells 33,618 Shares of MGM Resorts International (NYSE:MGM)

Amalgamated Bank lessened its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 42.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,893 shares of the company's stock after selling 33,618 shares during the quarter. Amalgamated Bank's holdings in MGM Resorts International were worth $1,794,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Texas Permanent School Fund Corp raised its position in MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company's stock valued at $2,667,000 after purchasing an additional 245 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in MGM Resorts International by 31.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 22,622 shares of the company's stock worth $1,068,000 after acquiring an additional 5,402 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in MGM Resorts International by 30.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,483 shares of the company's stock valued at $825,000 after acquiring an additional 4,063 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in MGM Resorts International by 23.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 10,714 shares of the company's stock valued at $506,000 after purchasing an additional 2,003 shares during the period. Finally, US Bancorp DE raised 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 purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International 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 owns 5,738,478 shares of the company's stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Up 3.3 %

Shares of MGM Resorts International stock traded up $1.23 on Wednesday, reaching $37.98. The company's stock had a trading volume of 5,390,919 shares, compared to its average volume of 4,129,767. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.62 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The firm's fifty day simple moving average is $38.36 and its two-hundred day simple moving average is $39.86.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period in the previous year, the business earned $0.64 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research report on Friday, August 23rd. Stifel Nicolaus upped 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. JMP Securities lowered their target price on MGM Resorts International from $56.00 to $54.00 and set a "market outperform" rating for the company in a research note on Thursday, October 31st. Truist Financial dropped their price target on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Finally, Macquarie decreased their price objective on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and a consensus target price 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.