MGM Resorts International (NYSE:MGM) Shares Sold by Xponance Inc.

Xponance Inc. decreased its holdings in MGM Resorts International (NYSE:MGM) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,223 shares of the company’s stock after selling 5,040 shares during the quarter. Xponance Inc.’s holdings in MGM Resorts International were worth $1,529,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Davis Selected Advisers acquired a new position in shares of MGM Resorts International in the third quarter worth about $361,915,000. Boston Partners raised its position in shares of MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after purchasing an additional 3,723,659 shares during the period. Invesco Ltd. grew its holdings in MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after buying an additional 500,566 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in MGM Resorts International by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after buying an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after buying an additional 1,686,267 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM opened at $42.85 on Wednesday. The stock has a fifty day moving average of $43.81 and a 200-day moving average of $42.05. The firm has a market capitalization of $13.58 billion, a P/E ratio of 13.52, a PEG ratio of 1.75 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $0.69 earnings per share. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGM. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Morgan Stanley increased their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities reaffirmed a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and a consensus price target of $55.34.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction 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 $261,637,576.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by corporate insiders.

About MGM Resorts International

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.