Sumitomo Mitsui DS Asset Management Company Ltd Reduces Position in MGM Resorts International (NYSE:MGM)

Sumitomo Mitsui DS Asset Management Company Ltd cut its position in shares of MGM Resorts International (NYSE:MGM) by 20.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 41,160 shares of the company’s stock after selling 10,643 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MGM Resorts International were worth $1,839,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Regatta Capital Group LLC boosted its stake in shares of MGM Resorts International by 1.8% during the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares during the period. Sandy Spring Bank boosted its stake in shares of MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the period. Fifth Third Bancorp boosted its position in MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock valued at $447,000 after buying an additional 289 shares during the period. Kingswood Wealth Advisors LLC boosted its position in MGM Resorts International by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after buying an additional 292 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in MGM Resorts International by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after buying an additional 302 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 0.3 %

NYSE MGM opened at $42.71 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The firm has a market cap of $13.54 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The company has a 50 day moving average price of $43.76 and a 200 day moving average price of $42.09. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the business posted $0.69 EPS. MGM Resorts International’s revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the company’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 transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MGM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Bank Of America (Bofa) boosted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.34.

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.