Modus Advisors LLC Invests $46,000 in MGM Resorts International (NYSE:MGM)

Modus Advisors LLC purchased a new position in MGM Resorts International (NYSE:MGM) during the 4th quarter, Holdings Channel reports. The fund purchased 1,335 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International during the third quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in MGM Resorts International in the 3rd quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new position in MGM Resorts International in the third quarter worth approximately $45,000. 68.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group cut their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday. Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Mizuho cut their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Truist Financial lowered their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.36.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

Shares of MGM opened at $34.09 on Friday. MGM Resorts International has a 1 year low of $33.28 and a 1 year high of $48.24. The stock has a market capitalization of $10.15 billion, a P/E ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company’s fifty day moving average is $36.65 and its two-hundred day moving average is $38.79.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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 firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business earned $0.64 EPS. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current 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.