Rafferty Asset Management LLC Sells 909 Shares of MGM Resorts International (NYSE:MGM) (2024)

Rafferty Asset Management LLC lessened its position in MGM Resorts International (NYSE:MGM – Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,510 shares of the company’s stock after selling 909 shares during the quarter. Rafferty Asset Management LLC’s holdings in MGM Resorts International were worth $1,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at about $28,000. Sunbelt Securities Inc. grew its stake in shares of MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the last quarter. Sandy Spring Bank grew its stake in shares of MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after buying an additional 288 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of MGM Resorts International by 46.7% during the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock valued at $73,000 after buying an additional 636 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $40.77 on Tuesday. The firm has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.81. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.89 and a beta of 2.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM – Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Barclays raised their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.83.

Check Out Our Latest Analysis on MGM

About MGM Resorts International

(Free Report)

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.

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