Sippican Capital Advisors Sells 4,305 Shares of MGM Resorts International (NYSE:MGM)

Sippican Capital Advisors decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,182 shares of the company’s stock after selling 4,305 shares during the quarter. Sippican Capital Advisors’ holdings in MGM Resorts International were worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares in the last quarter. Goldentree Asset Management LP grew its stake in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MGM Resorts International by 5.7% in 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 worth $89,832,000 after purchasing an additional 123,124 shares in the last quarter. Finally, FMR LLC boosted its holdings in MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after purchasing an additional 79,486 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 1.6 %

NYSE:MGM opened at $34.02 on Thursday. The firm has a market capitalization of $10.13 billion, a P/E ratio of 12.15, a P/E/G ratio of 3.06 and a beta of 2.21. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $34.93 and a 200 day moving average of $37.50.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share 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 for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts predict that MGM Resorts International will post 2.41 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGM. Truist Financial dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Barclays decreased 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 research report on Friday, December 13th. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

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.