MML Investors Services LLC Has $1.67 Million Stock Position in MGM Resorts International (NYSE:MGM)

MML Investors Services LLC lowered its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 44.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,628 shares of the company's stock after selling 33,455 shares during the period. MML Investors Services LLC's holdings in MGM Resorts International were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of MGM Resorts International by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 14,975 shares of the company's stock worth $665,000 after buying an additional 525 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of MGM Resorts International in the 2nd quarter worth $447,000. &PARTNERS raised its stake in shares of MGM Resorts International by 145.3% in the 2nd quarter. &PARTNERS now owns 20,213 shares of the company's stock worth $898,000 after buying an additional 11,972 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of MGM Resorts International by 7.0% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,444 shares of the company's stock worth $731,000 after buying an additional 1,075 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of MGM Resorts International by 21.3% in the 2nd quarter. Atomi Financial Group Inc. now owns 13,705 shares of the company's stock worth $609,000 after buying an additional 2,404 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group raised MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Mizuho decreased their target price on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Truist Financial decreased their target price 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 decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Finally, Barclays decreased their target price on MGM Resorts International from $50.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of "Moderate Buy" and an average target price of $52.54.

MGM Resorts International Stock Down 4.4 %

Shares of NYSE MGM traded down $1.57 during mid-day trading on Wednesday, reaching $33.80. The company had a trading volume of 4,250,535 shares, compared to its average volume of 4,070,349. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The stock's 50 day moving average is $38.16 and its 200-day moving average is $39.31. The stock has a market capitalization of $10.06 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, equities analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

MGM Resorts International 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.