IHT Wealth Management LLC Sells 5,942 Shares of MGM Resorts International (NYSE:MGM)

IHT Wealth Management LLC cut its stake in MGM Resorts International (NYSE:MGM) by 34.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,302 shares of the company’s stock after selling 5,942 shares during the quarter. IHT Wealth Management LLC’s holdings in MGM Resorts International were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MGM. Charles Schwab Investment Management Inc. grew its position in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after purchasing an additional 38,749 shares during the period. Korea Investment CORP increased its position in MGM Resorts International by 964.3% during the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock valued at $5,034,000 after acquiring an additional 131,636 shares during the last quarter. ACR Alpine Capital Research LLC lifted its holdings in MGM Resorts International by 23.3% in the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after acquiring an additional 30,605 shares during the period. Davis Selected Advisers boosted its position in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $2,010,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 0.9 %

Shares of MGM Resorts International stock opened at $31.69 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. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.98 and a beta of 1.96. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The business has a 50-day moving average price of $31.33 and a 200-day moving average price of $34.57.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (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%. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s 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 of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 3.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Barclays cut their price objective on shares of MGM Resorts International from $47.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. JMP Securities reduced their price target on MGM Resorts International from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.06.

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.