MGM Resorts International (NYSE:MGM) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,299 shares of the company’s stock after selling 24,982 shares during the quarter. Exchange Traded Concepts LLC’s holdings in MGM Resorts International were worth $3,094,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after buying an additional 90,645 shares during the period. Goldentree Asset Management LP lifted its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International in the third quarter worth approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after purchasing an additional 79,486 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $32.90 on Friday. The company has a market cap of $9.79 billion, a PE ratio of 11.75, a P/E/G ratio of 3.06 and a beta of 2.21. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a fifty day moving average price of $35.15 and a two-hundred day moving average price of $37.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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). The company had revenue of $4.18 billion for 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 company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Research analysts expect that MGM Resorts International will post 2.41 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price 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. Mizuho reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group reduced their target price 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. 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, Wells Fargo & Company reduced their price objective on 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 twelve have issued a buy rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $51.93.

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.