Duality Advisers LP Trims Holdings in MGM Resorts International (NYSE:MGM)

Duality Advisers LP lessened its holdings in MGM Resorts International (NYSE:MGM) by 48.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,579 shares of the company’s stock after selling 11,031 shares during the quarter. Duality Advisers LP’s holdings in MGM Resorts International were worth $517,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of MGM Resorts International by 15.4% during the 3rd quarter. CWM LLC now owns 7,382 shares of the company’s stock valued at $271,000 after buying an additional 983 shares during the last quarter. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 444.8% in the third quarter. Global Retirement Partners LLC now owns 2,882 shares of the company’s stock valued at $101,000 after acquiring an additional 2,353 shares during the period. Flagship Harbor Advisors LLC grew its holdings in shares of MGM Resorts International by 26.3% during the third quarter. Flagship Harbor Advisors LLC now owns 6,253 shares of the company’s stock valued at $230,000 after purchasing an additional 1,304 shares during the last quarter. Park Place Capital Corp raised its position in shares of MGM Resorts International by 618.1% during the 3rd quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after purchasing an additional 853 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of MGM Resorts International by 63.2% in the 3rd quarter. Private Trust Co. NA now owns 2,033 shares of the company’s stock worth $75,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MGM shares. Bank Of America (Bofa) upped their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Finally, Mizuho assumed coverage on MGM Resorts International in a report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $55.34.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated 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 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 filing with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Stock Down 1.2 %

MGM opened at $42.18 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The company has a market capitalization of $13.37 billion, a PE ratio of 13.31, a P/E/G ratio of 1.76 and a beta of 2.19. The stock’s fifty day moving average is $43.76 and its 200-day moving average is $42.09. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35.

MGM Resorts International (NYSE:MGM) last released its 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. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. MGM Resorts International’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. On average, equities analysts predict that MGM Resorts International will post 2.46 EPS for the current fiscal 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.