MGM Resorts International (NYSE:MGM) Shares Sold by MML Investors Services LLC

MML Investors Services LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 44.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,628 shares of the company’s stock after selling 33,455 shares during the period. MML Investors Services LLC’s holdings in MGM Resorts International were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the 2nd quarter worth about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International during the 3rd quarter worth about $28,000. Eastern Bank acquired a new stake in MGM Resorts International during the 3rd quarter worth about $35,000. UMB Bank n.a. grew its position in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in MGM Resorts International during the 3rd quarter worth about $44,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MGM. Deutsche Bank Aktiengesellschaft cut their price target on 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. Morgan Stanley increased their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Barclays lowered their target price 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. Finally, Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

MGM Resorts International Trading Up 0.3 %

Shares of MGM Resorts International stock opened at $35.37 on Wednesday. The firm has a market capitalization of $10.53 billion, a PE ratio of 12.63, a P/E/G ratio of 3.16 and a beta of 2.20. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The firm’s 50-day moving average price is $38.25 and its 200 day moving average price is $39.35. 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 data on Wednesday, October 30th. The company reported $0.54 EPS 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 net margin of 5.23% and a return on equity of 25.84%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. On average, sell-side analysts predict that MGM Resorts International will post 2.48 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 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 value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by insiders.

About MGM Resorts International

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.