D.A. Davidson & CO. Trims Holdings in MGM Resorts International (NYSE:MGM)

D.A. Davidson & CO. trimmed its position in MGM Resorts International (NYSE:MGM) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,361 shares of the company’s stock after selling 23,840 shares during the quarter. D.A. Davidson & CO. owned about 0.06% of MGM Resorts International worth $9,265,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MGM. CVA Family Office LLC purchased a new position in shares of MGM Resorts International in the fourth quarter worth about $28,000. Sunbelt Securities Inc. grew its holdings in MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the period. Sandy Spring Bank grew its holdings in MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after acquiring an additional 288 shares during the period. Finally, Huntington National Bank grew its holdings in MGM Resorts International by 46.7% during the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock worth $73,000 after acquiring an additional 636 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The disclosure for this sale can be found here. Insiders have sold 333,688 shares of company stock worth $14,300,967 over the last quarter. 2.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho raised their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Morgan Stanley raised their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $40.51 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The business’s 50 day moving average price is $43.17 and its 200-day moving average price is $42.78. The firm has a market capitalization of $12.71 billion, a PE ratio of 15.70, a P/E/G ratio of 0.91 and a beta of 2.22. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts expect that MGM Resorts International will post 2.9 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.