MGM Resorts International (NYSE:MGM) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance cut its position in shares of MGM Resorts International (NYSE:MGM) by 25.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,511 shares of the company’s stock after selling 3,598 shares during the period. Independent Advisor Alliance’s holdings in MGM Resorts International were worth $364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International during the third quarter worth about $28,000. Assetmark Inc. increased its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Brooklyn Investment Group acquired a new stake in MGM Resorts International during the third quarter worth about $44,000. Finally, Global Retirement Partners LLC increased its stake in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Trading Down 1.8 %

NYSE:MGM opened at $31.84 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average is $34.03 and its two-hundred day moving average is $36.16. MGM Resorts International has a 52 week low of $29.99 and a 52 week high of $48.25. The company has a market cap of $9.09 billion, a PE ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its 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 return on equity of 21.08% and a net margin of 4.33%. On average, analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MGM. Morgan Stanley upped their price target on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company upped their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Company 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.