Sonora Investment Management Group LLC Sells 2,988 Shares of MGM Resorts International (NYSE:MGM)

Sonora Investment Management Group LLC cut its position in shares of MGM Resorts International (NYSE:MGM) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,242 shares of the company’s stock after selling 2,988 shares during the period. Sonora Investment Management Group LLC’s holdings in MGM Resorts International were worth $3,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. KBC Group NV raised its stake in MGM Resorts International by 3,041.1% in the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after buying an additional 375,693 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of MGM Resorts International during the 4th quarter worth $175,000. Regatta Capital Group LLC lifted its position in shares of MGM Resorts International by 5.8% during the fourth quarter. Regatta Capital Group LLC now owns 18,617 shares of the company’s stock valued at $645,000 after buying an additional 1,025 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International in the 4th quarter valued at about $28,000. Finally, MCF Advisors LLC grew its position in shares of MGM Resorts International by 20.4% in the 4th quarter. MCF Advisors LLC now owns 22,075 shares of the company’s stock worth $765,000 after buying an additional 3,744 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGM shares. Mizuho decreased their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Finally, Jefferies Financial Group cut their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Up 1.7 %

Shares of MGM stock opened at $34.60 on Friday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock has a market cap of $10.30 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.89 and a beta of 2.21. The stock has a 50 day moving average of $34.86 and a 200 day moving average of $37.48. The company has a current ratio of 1.24, a quick ratio of 1.21 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 for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during 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%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, sell-side analysts expect that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.13% of the stock is currently owned by company insiders.

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.