Sigma Planning Corp Has $381,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Sigma Planning Corp lessened its holdings in MGM Resorts International (NYSE:MGM) by 34.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,531 shares of the company’s stock after selling 4,550 shares during the period. Sigma Planning Corp’s holdings in MGM Resorts International were worth $381,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Regatta Capital Group LLC boosted its position in shares of MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares in the last quarter. Sandy Spring Bank boosted its position in shares of MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of MGM Resorts International by 2.4% during the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after purchasing an additional 289 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of MGM Resorts International by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after purchasing an additional 292 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of MGM Resorts International by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock worth $2,953,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Mizuho initiated coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price objective on the stock. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Barclays cut their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, JMP Securities reaffirmed 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $55.34.

MGM Resorts International Stock Down 2.6 %

MGM Resorts International stock opened at $41.08 on Friday. The firm has a market capitalization of $13.02 billion, a PE ratio of 12.96, a P/E/G ratio of 1.73 and a beta of 2.19. The company’s 50-day moving average is $43.74 and its 200-day moving average is $42.10. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53.

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

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International 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 completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is owned by company insiders.

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.