Vanguard Group Inc. lessened its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,476,791 shares of the company's stock after selling 801,486 shares during the quarter. Vanguard Group Inc. owned 9.53% of MGM Resorts International worth $1,361,703,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Regatta Capital Group LLC lifted its stake in shares of MGM Resorts International by 1.8% in the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company's stock valued at $614,000 after acquiring an additional 247 shares during the last quarter. Sandy Spring Bank lifted its stake in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company's stock valued at $51,000 after acquiring an additional 288 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of MGM Resorts International by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company's stock valued at $428,000 after acquiring an additional 292 shares during the last quarter. 180 Wealth Advisors LLC raised its position in MGM Resorts International by 2.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 11,731 shares of the company's stock worth $534,000 after purchasing an additional 312 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in MGM Resorts International by 49.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company's stock worth $49,000 after purchasing an additional 367 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.
MGM Resorts International Stock Up 2.9 %
Shares of MGM traded up $1.17 during trading hours on Thursday, hitting $41.70. The stock had a trading volume of 3,704,582 shares, compared to its average volume of 3,777,466. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $42.81. The firm has a market capitalization of $13.08 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 0.88 and a beta of 2.24. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.
MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Sell-side analysts predict that MGM Resorts International will post 2.9 EPS for the current fiscal year.
Insider Buying and Selling at MGM Resorts International
In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Daniel J. Taylor sold 4,344 shares of the company's stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the company's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares of the company's stock, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,988 shares of company stock worth $5,991,759. Insiders own 2.13% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on MGM shares. JMP Securities raised their target price on MGM Resorts International from $57.00 to $58.00 and gave the stock a "market outperform" rating in a research report on Monday, May 6th. StockNews.com lowered MGM Resorts International from a "buy" rating to a "hold" rating in a research report on Friday, May 10th. Barclays lifted their price objective on MGM Resorts International from $55.00 to $56.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Susquehanna raised MGM Resorts International from a "neutral" rating to a "positive" rating and lifted their price objective for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, Mizuho lifted their price objective on MGM Resorts International from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.83.
Read Our Latest Analysis on MGM
MGM Resorts International Company Profile
(Free Report)
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.
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