Orvieto Partners L.P. Cuts Holdings in MGM Resorts International $MGM

Orvieto Partners L.P. cut its holdings in MGM Resorts International (NYSE:MGM) by 13.0% during the first quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 15,000 shares during the quarter. MGM Resorts International comprises 3.2% of Orvieto Partners L.P.’s investment portfolio, making the stock its 13th biggest holding. Orvieto Partners L.P.’s holdings in MGM Resorts International were worth $3,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MGM Resorts International by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock worth $582,000 after acquiring an additional 951 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in MGM Resorts International by 12.1% in the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after acquiring an additional 421 shares during the period. Woodline Partners LP boosted its position in shares of MGM Resorts International by 39.1% during the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after purchasing an additional 5,312 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of MGM Resorts International by 57.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock worth $112,000 after purchasing an additional 1,182 shares in the last quarter. Finally, Jump Financial LLC grew its stake in shares of MGM Resorts International by 221.9% during the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock worth $921,000 after purchasing an additional 18,463 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 3.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho cut their price target on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Morgan Stanley reissued an “underweight” rating on shares of MGM Resorts International in a report on Wednesday. Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Finally, Citigroup boosted their price target on MGM Resorts International from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.31.

MGM Resorts International Trading Down 1.1%

NYSE:MGM opened at $44.98 on Friday. The company has a market capitalization of $11.51 billion, a PE ratio of 62.47 and a beta of 1.29. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The stock has a fifty day simple moving average of $45.44 and a 200-day simple moving average of $39.57.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the company posted $0.69 earnings per share. MGM Resorts International’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that MGM Resorts International will post 1.97 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.