Paloma Partners Management Co Has $1.24 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Paloma Partners Management Co trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,668 shares of the company’s stock after selling 3,584 shares during the quarter. Paloma Partners Management Co’s holdings in MGM Resorts International were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldentree Asset Management LP lifted its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the period. Infrastructure Capital Advisors LLC bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $156,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after purchasing an additional 123,124 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its position in MGM Resorts International by 18.9% during the third quarter. CreativeOne Wealth LLC now owns 5,824 shares of the company’s stock worth $228,000 after acquiring an additional 927 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho cut their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of 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 lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Truist Financial cut their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, JMP Securities decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.85.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $38.27 on Tuesday. The stock has a market cap of $11.39 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 2.74 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. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The firm’s fifty day moving average price is $38.70 and its 200-day moving average price is $39.59.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business posted $0.64 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts expect that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

MGM Resorts International Company 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.