SG Americas Securities LLC Sells 134,040 Shares of MGM Resorts International $MGM

SG Americas Securities LLC reduced its stake in MGM Resorts International (NYSE:MGM) by 55.6% during the second quarter, HoldingsChannel reports. The fund owned 107,173 shares of the company’s stock after selling 134,040 shares during the period. SG Americas Securities LLC’s holdings in MGM Resorts International were worth $3,686,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MGM. XML Financial LLC boosted its stake in MGM Resorts International by 0.9% in the 2nd quarter. XML Financial LLC now owns 30,884 shares of the company’s stock worth $1,062,000 after purchasing an additional 287 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in MGM Resorts International by 4.1% in the second quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock worth $274,000 after buying an additional 315 shares during the last quarter. Quarry LP lifted its stake in shares of MGM Resorts International by 24.1% in the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after buying an additional 349 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of MGM Resorts International by 0.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock valued at $1,917,000 after buying an additional 399 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after acquiring an additional 421 shares in the last quarter. Hedge funds and other institutional investors 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 242,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the sale, the director directly owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at $1,138,538.52. This represents a 65.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Up 0.1%

MGM stock opened at $31.41 on Wednesday. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 196.29, a P/E/G ratio of 1.40 and a beta of 1.66. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22. The business’s 50-day moving average is $33.29 and its two-hundred day moving average is $34.57. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

MGM has been the topic of several analyst reports. UBS Group lowered their price objective on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday. Citigroup lowered their price target on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating on the stock in a report on Thursday, October 30th. Argus reduced their price objective on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a report on Friday, November 14th. Stifel Nicolaus set a $45.00 target price on MGM Resorts International in a research report on Thursday, October 30th. Finally, Macquarie dropped their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.97.

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.