MGM Resorts International (NYSE:MGM) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in MGM Resorts International (NYSE:MGM) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,471 shares of the company’s stock after selling 3,262 shares during the period. US Bancorp DE’s holdings in MGM Resorts International were worth $800,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MGM. Mirae Asset Global Investments Co. Ltd. increased its stake in MGM Resorts International by 40.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,099 shares of the company’s stock valued at $1,666,000 after purchasing an additional 10,886 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in MGM Resorts International by 109.3% during the first quarter. Janney Montgomery Scott LLC now owns 63,598 shares of the company’s stock valued at $3,002,000 after purchasing an additional 33,207 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in MGM Resorts International by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after purchasing an additional 245 shares during the last quarter. Empirical Finance LLC increased its stake in MGM Resorts International by 2.7% during the first quarter. Empirical Finance LLC now owns 11,992 shares of the company’s stock valued at $566,000 after purchasing an additional 319 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in MGM Resorts International by 31.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 22,622 shares of the company’s stock valued at $1,068,000 after purchasing an additional 5,402 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Mizuho lowered 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. JMP Securities lowered their price target on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Susquehanna upped their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $36.69 on Friday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. 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 market capitalization of $10.92 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 2.67 and a beta of 2.23. The firm has a 50-day moving average of $38.34 and a two-hundred day moving average of $39.96.

MGM Resorts International (NYSE:MGM) last posted 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the company posted $0.64 earnings per share. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that MGM Resorts International will post 2.5 earnings per share 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.