Sumitomo Mitsui DS Asset Management Company Ltd Sells 10,643 Shares of MGM Resorts International (NYSE:MGM)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,160 shares of the company’s stock after selling 10,643 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MGM Resorts International were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Regatta Capital Group LLC increased its holdings in shares of MGM Resorts International by 1.8% in the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares during the period. Sandy Spring Bank increased its holdings in shares of MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the period. Fifth Third Bancorp increased its holdings in shares of MGM Resorts International by 2.4% in the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after purchasing an additional 289 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after purchasing an additional 292 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in MGM Resorts International by 0.4% in 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 in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Bank Of America (Bofa) upped their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Barclays cut their target price on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Morgan Stanley upped their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $55.34.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $42.71 on Thursday. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The company has a 50-day moving average price of $43.76 and a 200-day moving average price of $42.09. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. MGM Resorts International’s revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that MGM Resorts International will post 2.46 EPS for the current year.

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.