ING Groep NV Decreases Stock Holdings in MGM Resorts International (NYSE:MGM)

ING Groep NV trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 84.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,611 shares of the company’s stock after selling 75,538 shares during the quarter. ING Groep NV’s holdings in MGM Resorts International were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CVA Family Office LLC purchased a new stake in MGM Resorts International in the fourth quarter worth $28,000. Sunbelt Securities Inc. increased its position in MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after buying an additional 367 shares during the last quarter. Sandy Spring Bank increased its position in 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 buying an additional 288 shares during the last quarter. Finally, Huntington National Bank increased its position in MGM Resorts International by 46.7% in the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock worth $73,000 after buying an additional 636 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 1.5 %

NYSE:MGM opened at $40.20 on Thursday. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The firm has a fifty day simple moving average of $43.12 and a 200-day simple moving average of $42.76. 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 capitalization of $12.61 billion, a P/E ratio of 15.46, a PEG ratio of 0.90 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts anticipate that MGM Resorts International will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price target for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Mizuho raised their price target on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Barclays raised their price target on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.83.

Insider Transactions at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 325,000 shares of the company’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 sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The disclosure for this sale can be found here. Insiders sold 333,688 shares of company stock valued at $14,300,967 over the last 90 days. Corporate insiders own 2.13% of the company’s stock.

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.