Rhumbline Advisers Trims Position in MGM Resorts International (NYSE:MGM)

Rhumbline Advisers trimmed its holdings in MGM Resorts International (NYSE:MGM) by 3.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 381,614 shares of the company’s stock after selling 15,583 shares during the period. Rhumbline Advisers owned 0.13% of MGM Resorts International worth $13,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MGM. Creative Planning raised its holdings in shares of MGM Resorts International by 8.4% in the third quarter. Creative Planning now owns 77,682 shares of the company’s stock valued at $3,037,000 after buying an additional 6,040 shares during the last quarter. Blue Trust Inc. increased its stake in shares of MGM Resorts International by 120.6% during the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after acquiring an additional 737 shares during the period. Raymond James & Associates increased its stake in shares of MGM Resorts International by 22.6% during the third quarter. Raymond James & Associates now owns 468,269 shares of the company’s stock worth $18,305,000 after acquiring an additional 86,370 shares during the period. Eastern Bank acquired a new position in shares of MGM Resorts International during the third quarter worth about $35,000. Finally, International Assets Investment Management LLC increased its stake in shares of MGM Resorts International by 6,902.6% during the third quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock worth $1,705,000 after acquiring an additional 43,003 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Macquarie reiterated an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.47.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on 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 in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

MGM Resorts International Trading Down 6.0 %

Shares of MGM opened at $36.02 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $34.53 and a 200-day simple moving average of $36.81. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities analysts forecast that MGM Resorts International will post 2.21 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.