First Horizon Advisors Inc. Sells 402 Shares of MGM Resorts International (NYSE:MGM)

First Horizon Advisors Inc. lessened its stake in MGM Resorts International (NYSE:MGM) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,812 shares of the company’s stock after selling 402 shares during the period. First Horizon Advisors Inc.’s holdings in MGM Resorts International were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MGM. Raymond James & Associates raised its position in MGM Resorts International by 60.8% in the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock worth $11,856,000 after purchasing an additional 121,947 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in MGM Resorts International by 42.9% in the third quarter. Stratos Wealth Partners LTD. now owns 27,461 shares of the company’s stock worth $1,009,000 after purchasing an additional 8,244 shares in the last quarter. Brown Advisory Inc. raised its position in MGM Resorts International by 1.3% in the third quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock worth $854,000 after purchasing an additional 309 shares in the last quarter. Lindbrook Capital LLC raised its position in MGM Resorts International by 24.1% in the third quarter. Lindbrook Capital LLC now owns 2,907 shares of the company’s stock worth $107,000 after purchasing an additional 565 shares in the last quarter. Finally, Strs Ohio increased its holdings in shares of MGM Resorts International by 6.5% during the third quarter. Strs Ohio now owns 36,351 shares of the company’s stock worth $1,336,000 after buying an additional 2,210 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the subject of several recent analyst reports. Barclays raised their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Mizuho raised their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price target for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.83.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were 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 in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by company insiders.

MGM Resorts International Stock Down 0.1 %

Shares of MGM stock opened at $41.01 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm’s fifty day moving average price is $43.50 and its two-hundred day moving average price is $42.36. The firm has a market capitalization of $12.86 billion, a P/E ratio of 15.77, a PEG ratio of 0.95 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.76 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.