Vontobel Holding Ltd. Sells 7,952 Shares of MGM Resorts International (NYSE:MGM)

Vontobel Holding Ltd. lessened its holdings in MGM Resorts International (NYSE:MGM) by 38.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,474 shares of the company’s stock after selling 7,952 shares during the quarter. Vontobel Holding Ltd.’s holdings in MGM Resorts International were worth $432,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MGM. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter worth approximately $28,000. Eastern Bank bought a new position in MGM Resorts International during the 3rd quarter worth approximately $35,000. Brooklyn Investment Group bought a new position in MGM Resorts International during the 3rd quarter worth approximately $44,000. Finally, Planning Capital Management Corp bought a new position in MGM Resorts International during the 3rd quarter worth approximately $45,000. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, February 14th. Barclays lifted their price objective on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Citigroup lifted their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

Insider Activity

In related news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction 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. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

NYSE MGM opened at $38.32 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a market capitalization of $11.41 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 3.06 and a beta of 2.20. The firm’s 50 day moving average is $34.54 and its 200-day moving average is $36.79.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.