Xponance Inc. sells its shares of MGM Resorts International

MGM Stock

Xponance Inc. has recently reduced its holdings in MGM Resorts International (MGM:NYE), selling 20,467 shares and lowering its holdings in the company by 32.9% during the fourth quarter. As per the company’s filing with the SEC, Xponance Inc. now owns 41,664 shares of MGM stock, which is worth $1,397,000 as of the end of the fourth quarter.

Several other investors have either increased or decreased their stakes in the company as well. Price T Rowe Associates Inc. MD, for example, increased its position in MGM Resorts International by 19.4% in the second quarter, while Invesco Ltd. boosted its stake in MGM Resorts International by 8.6% during the first quarter.

 

MGM Stock Analysis:

The stock of MGM Resorts International opened at $43.18 on Thursday, with a market cap of $16.10 billion, a PE ratio of 12.78, and a beta of 2.06. The company has a quick ratio of 1.78, a current ratio of 1.81, and a debt-to-equity ratio of 1.43.

The board of MGM Resorts International authorized a stock buyback plan, allowing the company to buy back $2.00 billion in outstanding shares. A number of brokerages have also issued reports on MGM, with Stifel Nicolaus increasing its price target for the company from $42.00 to $46.00 and raising its rating from “hold” to “buy.”

MGM Ratings by Stock Target Advisor

Company Profile:

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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. The company’s casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings.

The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.

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