Rothschild Investment Corp IL cut its stake in MGM Resorts International (NYSE:MGM) by 80.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,400 shares of the company’s stock after selling 72,700 shares during the period. Rothschild Investment Corp IL’s holdings in MGM Resorts International were worth $579,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Price Wealth LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $38,000. Stephens Inc. AR raised its holdings in shares of MGM Resorts International by 33.6% during the third quarter. Stephens Inc. AR now owns 2,193 shares of the company’s stock worth $61,000 after purchasing an additional 552 shares during the period. Huntington National Bank raised its holdings in shares of MGM Resorts International by 979.9% during the fourth quarter. Huntington National Bank now owns 1,879 shares of the company’s stock worth $63,000 after purchasing an additional 1,705 shares during the period. Venturi Wealth Management LLC bought a new position in MGM Resorts International in the 3rd quarter worth about $82,000. Finally, Point72 Hong Kong Ltd lifted its holdings in MGM Resorts International by 430.7% in the second quarter. Point72 Hong Kong Ltd now owns 3,980 shares of the company’s stock worth $114,000 after purchasing an additional 3,230 shares during the period. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on MGM. Barclays boosted their target price on MGM Resorts International from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday. SunTrust Banks began coverage on shares of MGM Resorts International in a research note on Friday, December 6th. They set a “hold” rating and a $35.00 price target for the company. TheStreet downgraded MGM Resorts International from a “b-” rating to a “c” rating in a report on Wednesday, October 30th. Roth Capital reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, October 31st. Finally, UBS Group upped their price objective on MGM Resorts International from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $32.25.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.37). MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that MGM Resorts International will post 0.88 EPS for the current fiscal year.
In other news, Director Keith A. Meister acquired 295,000 shares of MGM Resorts International stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $32.04 per share, with a total value of $9,451,800.00. Also, Director Keith A. Meister bought 79,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $29.43 per share, for a total transaction of $2,324,970.00. The disclosure for this purchase can be found here. Insiders own 3.47% of the company’s stock.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.
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