Sigma Planning Corp Sells 4,550 Shares of MGM Resorts International (NYSE:MGM)

Sigma Planning Corp trimmed its holdings in MGM Resorts International (NYSE:MGM) by 34.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,531 shares of the company’s stock after selling 4,550 shares during the period. Sigma Planning Corp’s holdings in MGM Resorts International were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in MGM. Davis Selected Advisers bought a new position in shares of MGM Resorts International in the third quarter valued at $361,915,000. Boston Partners lifted its stake in shares of MGM Resorts International by 1,447.6% in the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of MGM Resorts International by 544.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares during the last quarter. Invesco Ltd. raised its holdings in shares of MGM Resorts International by 14.6% in the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after purchasing an additional 500,566 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter valued at about $13,930,000. 68.11% of the stock is owned by institutional investors.

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 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 in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MGM. Bank Of America (Bofa) increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Mizuho assumed coverage on shares of MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. Finally, Morgan Stanley raised their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.34.

MGM Resorts International Price Performance

MGM opened at $41.08 on Friday. The company has a market capitalization of $13.02 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.73 and a beta of 2.19. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The firm has a 50-day moving average price of $43.74 and a 200-day moving average price of $42.10. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company earned $0.69 earnings per share. The company’s revenue was up 21.8% on a year-over-year basis. Equities analysts expect that MGM Resorts International will post 2.46 EPS for the current year.

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.