MGM Resorts International (NYSE:MGM) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 32.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 779 shares of the company’s stock after selling 379 shares during the quarter. Versant Capital Management Inc’s holdings in MGM Resorts International were worth $27,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MGM. National Bank of Canada FI boosted its holdings in MGM Resorts International by 13.4% during the second quarter. National Bank of Canada FI now owns 72,221 shares of the company’s stock worth $3,095,000 after buying an additional 8,537 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at about $296,000. Caprock Group LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at about $744,000. Ballentine Partners LLC raised its holdings in MGM Resorts International by 23.8% in the 2nd quarter. Ballentine Partners LLC now owns 6,795 shares of the company’s stock worth $302,000 after purchasing an additional 1,308 shares during the period. Finally, LSV Asset Management purchased a new position in MGM Resorts International during the second quarter worth approximately $21,149,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International 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 sale, the director now directly owns 5,687,478 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $33.22 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $36.32 and a 200 day moving average price of $38.65. MGM Resorts International has a 12-month low of $33.09 and a 12-month high of $48.24. The stock has a market cap of $9.89 billion, a P/E ratio of 11.86, a PEG ratio of 3.10 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $0.64 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MGM. Deutsche Bank Aktiengesellschaft cut their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley upped their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Barclays dropped 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 report on Friday, December 13th. Mizuho reduced their price target 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. Finally, Jefferies Financial Group lowered their price objective on 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 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, the stock has an average rating of “Moderate Buy” and an average price target of $52.36.

MGM Resorts International 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.