Regatta Capital Group LLC Has $645,000 Stock Position in MGM Resorts International (NYSE:MGM)

Regatta Capital Group LLC boosted its holdings in MGM Resorts International (NYSE:MGM) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,617 shares of the company’s stock after buying an additional 1,025 shares during the quarter. Regatta Capital Group LLC’s holdings in MGM Resorts International were worth $645,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International in the 4th quarter valued at approximately $28,000. Eastern Bank acquired a new stake in MGM Resorts International in the third quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the third quarter worth $44,000. Finally, Planning Capital Management Corp acquired a new position in shares of MGM Resorts International during the third quarter worth $45,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Down 0.7 %

NYSE MGM opened at $32.90 on Friday. The stock has a market capitalization of $9.79 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.06 and a beta of 2.21. The business has a 50 day simple moving average of $35.15 and a 200 day simple moving average 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 has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. 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 MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Mizuho reduced their price objective on 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. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Morgan Stanley raised their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. 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. Finally, Barclays dropped their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

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.