MGM Resorts International (NYSE:MGM) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC decreased its position in shares of MGM Resorts International (NYSE:MGM) by 60.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,098 shares of the company’s stock after selling 19,762 shares during the period. Daymark Wealth Partners LLC’s holdings in MGM Resorts International were worth $454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International in the third quarter valued at approximately $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the fourth quarter worth $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International in the third quarter worth $35,000. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the third quarter worth $44,000. Finally, Planning Capital Management Corp acquired a new stake in shares of MGM Resorts International in the third quarter valued at $45,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company reduced their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Truist Financial lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays reduced their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Finally, Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

MGM Resorts International Stock Up 1.0 %

MGM stock opened at $33.14 on Friday. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.11 and a beta of 2.21. The company has a fifty day moving average price of $35.23 and a 200 day moving average price of $37.86. 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 has a 12 month low of $31.61 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 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 business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company posted $0.64 earnings per share. MGM Resorts International’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that MGM Resorts International will post 2.41 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % 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. Company insiders own 2.13% of the company’s stock.

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.