MGM Resorts International (NYSE:MGM) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management reduced its position in MGM Resorts International (NYSE:MGM) by 2.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,171 shares of the company’s stock after selling 500 shares during the quarter. Triangle Securities Wealth Management’s holdings in MGM Resorts International were worth $803,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP boosted its holdings in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new position 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 raised its stake in shares of MGM Resorts International by 5.7% during 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 buying an additional 123,124 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of 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 buying an additional 79,486 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

MGM has been the topic of a number of recent analyst reports. Morgan Stanley upped their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Barclays lowered their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Mizuho decreased their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.93.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Stock Down 0.8 %

MGM opened at $32.85 on Friday. The firm has a market cap of $9.78 billion, a P/E ratio of 11.73, a PEG ratio of 3.04 and a beta of 2.21. The business’s fifty day simple moving average is $35.57 and its 200 day simple moving average is $38.11. 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.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 2.43 EPS for the current fiscal year.

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.