MGM Resorts International (NYSE:MGM) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,306 shares of the company’s stock after selling 2,838 shares during the quarter. Securian Asset Management Inc.’s holdings in MGM Resorts International were worth $773,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Davis Selected Advisers acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $361,915,000. Boston Partners grew its holdings in MGM Resorts International by 36.3% in the 4th quarter. Boston Partners now owns 5,427,254 shares of the company’s stock valued at $242,002,000 after buying an additional 1,446,362 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of MGM Resorts International by 4.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock worth $194,190,000 after acquiring an additional 202,434 shares during the last quarter. Invesco Ltd. raised its holdings in shares of MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after acquiring an additional 500,566 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of MGM Resorts International by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock valued at $92,923,000 after acquiring an additional 106,158 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $40.81 on Wednesday. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The company has a market cap of $12.80 billion, a P/E ratio of 15.70, a PEG ratio of 0.91 and a beta of 2.22. The firm has a fifty day moving average price of $43.17 and a 200 day moving average price of $42.78.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Sell-side analysts predict that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’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 transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, 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. Also, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The disclosure for this sale can be found here. Insiders have sold 333,688 shares of company stock worth $14,300,967 over the last three months. Insiders own 2.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGM. JMP Securities increased their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research note on Monday, May 6th. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Barclays lifted their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Macquarie reissued an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Finally, StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

MGM Resorts International 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.