Daiwa Securities Group Inc. Sells 1,313 Shares of MGM Resorts International (NYSE:MGM)

Daiwa Securities Group Inc. trimmed its stake in MGM Resorts International (NYSE:MGM) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,239 shares of the company’s stock after selling 1,313 shares during the period. Daiwa Securities Group Inc.’s holdings in MGM Resorts International were worth $1,128,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Davis Selected Advisers bought a new stake in MGM Resorts International in the third quarter valued at $361,915,000. Boston Partners grew its position in 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 acquiring an additional 3,723,659 shares during the period. Invesco Ltd. grew its position in 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 acquiring an additional 500,566 shares during the period. Ameriprise Financial Inc. grew its position in MGM Resorts International by 4.4% in the third 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 period. Finally, Qube Research & Technologies Ltd grew its position in 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 acquiring an additional 1,686,267 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the 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 in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MGM. Bank Of America (Bofa) upped their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Morgan Stanley boosted their price objective on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $55.34.

MGM Resorts International Trading Down 0.3 %

NYSE:MGM opened at $42.71 on Thursday. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The business’s 50-day moving average price is $43.76 and its two-hundred day moving average price is $42.09. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.75 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. On average, equities analysts expect that MGM Resorts International will post 2.46 earnings per share for the current year.

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.