Duality Advisers LP Sells 11,031 Shares of MGM Resorts International (NYSE:MGM)

Duality Advisers LP cut its position in shares of MGM Resorts International (NYSE:MGM) by 48.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,579 shares of the company’s stock after selling 11,031 shares during the period. Duality Advisers LP’s holdings in MGM Resorts International were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MGM. CVA Family Office LLC bought a new stake in MGM Resorts International in the fourth quarter valued at $28,000. Sandy Spring Bank grew its position in MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after acquiring an additional 500 shares during the period. Park Place Capital Corp grew its position in MGM Resorts International by 618.1% in the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock valued at $36,000 after acquiring an additional 853 shares during the period. Massmutual Trust Co. FSB ADV grew 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 valued at $49,000 after acquiring an additional 367 shares during the period. Finally, Sunbelt Securities Inc. grew 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 valued at $44,000 after acquiring an additional 1,000 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. 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. Bank Of America (Bofa) boosted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.34.

MGM Resorts International Trading Down 1.2 %

Shares of MGM opened at $42.18 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm has a market capitalization of $13.37 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The stock’s fifty day simple moving average is $43.76 and its 200-day simple moving average is $42.09.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) 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 business 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 firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, research analysts predict that MGM Resorts International will post 2.46 earnings per share for the current year.

Insider Activity

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

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.