MGM Resorts International (NYSE:MGM) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in MGM Resorts International (NYSE:MGM) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,999 shares of the company’s stock after selling 1,683 shares during the period. Nisa Investment Advisors LLC’s holdings in MGM Resorts International were worth $6,791,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MGM. RB Capital Management LLC increased its holdings in shares of MGM Resorts International by 29.1% in the first quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock valued at $327,000 after purchasing an additional 1,756 shares during the period. American Century Companies Inc. grew its holdings in MGM Resorts International by 10.7% during the first quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock worth $1,024,000 after acquiring an additional 2,368 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in MGM Resorts International by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock worth $2,114,000 after acquiring an additional 1,542 shares during the period. Synovus Financial Corp grew its holdings in MGM Resorts International by 107.5% during the first quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock worth $529,000 after acquiring an additional 6,526 shares during the period. Finally, Cibc World Market Inc. grew its holdings in MGM Resorts International by 81.6% during the first quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock worth $461,000 after acquiring an additional 4,934 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the firm’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 transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $44.68 on Thursday. The company has a market cap of $14.16 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.01 and a beta of 2.19. The stock’s 50 day simple moving average is $44.26 and its 200-day simple moving average is $41.64. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. 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 (NYSE:MGM) last released its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MGM. JPMorgan Chase & Co. raised their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Morgan Stanley raised their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Macquarie reiterated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Barclays lowered their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have given 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 price target of $55.34.

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.