Securian Asset Management Inc. Sells 949 Shares of MGM Resorts International $MGM

Securian Asset Management Inc. decreased its position in shares of MGM Resorts International (NYSE:MGM) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,813 shares of the company’s stock after selling 949 shares during the quarter. Securian Asset Management Inc.’s holdings in MGM Resorts International were worth $372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its stake in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 455 shares during the period. Bayforest Capital Ltd bought a new position in shares of MGM Resorts International during the 1st quarter worth $43,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after acquiring an additional 529 shares during the period. Quarry LP boosted its stake in MGM Resorts International by 24.1% in the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after purchasing an additional 349 shares during the period. Finally, UMB Bank n.a. boosted its stake in MGM Resorts International by 27.5% in the 2nd quarter. UMB Bank n.a. now owns 2,061 shares of the company’s stock worth $71,000 after purchasing an additional 445 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MGM. Mizuho raised their target price on MGM Resorts International from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Morgan Stanley raised their target price on MGM Resorts International from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 11th. Citigroup upgraded MGM Resorts International from a “hold” rating to a “strong-buy” rating and raised their target price for the stock from $55.00 to $57.00 in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $54.00 to $53.00 in a research note on Monday, September 22nd. Finally, Susquehanna raised their target price on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $48.50.

MGM Resorts International Stock Performance

NYSE:MGM opened at $32.83 on Friday. The business’s 50-day moving average price is $35.20 and its two-hundred day moving average price is $34.23. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $42.53. The stock has a market cap of $8.93 billion, a P/E ratio of 18.04, a PEG ratio of 1.49 and a beta of 1.67. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the firm posted $0.86 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the sale, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

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.