MGM Resorts International (NYSE:MGM) Shares Sold by abrdn plc

abrdn plc lowered its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 38.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,424 shares of the company's stock after selling 52,202 shares during the quarter. abrdn plc's holdings in MGM Resorts International were worth $3,301,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MGM. Boston Partners boosted its holdings in shares of MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company's stock worth $286,933,000 after buying an additional 684,676 shares during the last quarter. Bamco Inc. NY increased its position in shares of MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company's stock valued at $99,191,000 after buying an additional 73,515 shares during the period. Marshall Wace LLP grew its holdings in shares of MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock worth $49,330,000 after purchasing an additional 706,159 shares in the last quarter. Key Colony Management LLC grew its holdings in shares of MGM Resorts International by 11.1% during the third quarter. Key Colony Management LLC now owns 883,000 shares of the company's stock worth $34,516,000 after purchasing an additional 88,000 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new position in shares of MGM Resorts International during the first quarter worth about $35,726,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Ratings Changes

MGM has been the subject of a number of analyst reports. JMP Securities dropped their price objective 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. Barclays decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday. Macquarie reduced their price target 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. UBS Group upgraded MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and a consensus price target of $53.15.

MGM Resorts International Price Performance

MGM traded down $0.01 on Monday, hitting $36.40. 3,576,811 shares of the company's stock traded hands, compared to its average volume of 4,113,986. The company's 50 day simple moving average is $38.41 and its 200-day simple moving average is $40.14. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.94 and a beta of 2.23. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.42 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data 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 return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that MGM Resorts International will post 2.45 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.13% 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.