Choreo LLC Sells 1,734 Shares of MGM Resorts International (NYSE:MGM)

Choreo LLC decreased its stake in MGM Resorts International (NYSE:MGM) by 20.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,692 shares of the company’s stock after selling 1,734 shares during the quarter. Choreo LLC’s holdings in MGM Resorts International were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the 3rd quarter valued at $28,000. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the 4th quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International in the third quarter valued at about $35,000. Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International during the third quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the third quarter worth about $45,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Performance

NYSE:MGM opened at $39.82 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a fifty day moving average of $34.38 and a 200-day moving average of $36.81. The firm has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on MGM. Macquarie reiterated an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Capital One Financial raised their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Mizuho raised their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.47.

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.