Nisa Investment Advisors LLC Sells 1,194 Shares of MGM Resorts International (NYSE:MGM)

Nisa Investment Advisors LLC decreased its position in shares of MGM Resorts International (NYSE:MGM) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,233 shares of the company’s stock after selling 1,194 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MGM Resorts International were worth $5,032,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MGM. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the 3rd quarter valued at $44,000. Planning Capital Management Corp acquired a new position in shares of MGM Resorts International during the 3rd quarter worth $45,000. Finally, Modus Advisors LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGM has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Truist Financial lowered their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Mizuho lowered their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the firm’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 completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $32.90 on Friday. The stock has a market capitalization of $9.79 billion, a PE ratio of 11.75, a PEG ratio of 3.06 and a beta of 2.21. The business’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $37.79. 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 one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last posted 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 the consensus estimate of $4.21 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that MGM Resorts International will post 2.41 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.