Raymond James & Associates Lowers Holdings in MGM Resorts International (NYSE:MGM)

Raymond James & Associates cut its stake in MGM Resorts International (NYSE:MGM) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 307,877 shares of the company’s stock after selling 14,643 shares during the period. Raymond James & Associates owned approximately 0.09% of MGM Resorts International worth $13,756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Fifth Third Bancorp increased its holdings in shares of MGM Resorts International by 2.4% during the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after buying an additional 289 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in MGM Resorts International by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock worth $2,953,000 after acquiring an additional 302 shares during the last quarter. Brown Advisory Inc. raised its holdings in shares of MGM Resorts International by 1.3% in the 3rd quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock worth $854,000 after purchasing an additional 309 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of MGM Resorts International by 2.5% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,745 shares of the company’s stock valued at $560,000 after purchasing an additional 310 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of MGM Resorts International by 1.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 34,193 shares of the company’s stock worth $1,257,000 after purchasing an additional 336 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 0.7 %

MGM opened at $46.75 on Thursday. The stock has a market capitalization of $14.82 billion, a PE ratio of 14.75, a P/E/G ratio of 1.58 and a beta of 2.19. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm’s fifty day moving average price is $44.02 and its 200 day moving average price is $41.38.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. As a group, research analysts expect that MGM Resorts International will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MGM. Mizuho began coverage on shares of MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target on the stock. Morgan Stanley lifted their target price on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. increased their price target on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and set a $57.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Finally, Bank Of America (Bofa) increased their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.28.

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.