MGM Resorts International (NYSE:MGM) Stock Holdings Cut by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management lowered its position in MGM Resorts International (NYSE:MGM - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 449,416 shares of the company's stock after selling 158,551 shares during the quarter. Gerber Kawasaki Wealth & Investment Management owned 0.15% of MGM Resorts International worth $15,572,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MGM. TD Waterhouse Canada Inc. lifted its stake in shares of MGM Resorts International by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock valued at $111,000 after buying an additional 261 shares during the period. Ballentine Partners LLC lifted its stake in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock valued at $227,000 after buying an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after buying an additional 333 shares during the period. Global Retirement Partners LLC lifted its stake in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Transactions at MGM Resorts International

In related 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 value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BTIG Research downgraded shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Argus raised shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Friday, February 14th. Finally, Macquarie reaffirmed an "outperform" rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.53.

MGM Resorts International Stock Down 3.3 %

MGM traded down $1.03 during trading hours on Thursday, reaching $30.43. 5,913,519 shares of the stock traded hands, compared to its average volume of 5,732,645. The firm's fifty day simple moving average is $30.99 and its two-hundred day simple moving average is $34.44. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.98 and a beta of 1.96. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. As a group, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 22.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.