Mercer Global Advisors Inc. ADV Sells 19,332 Shares of MGM Resorts International (NYSE:MGM)

Mercer Global Advisors Inc. ADV cut its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,669 shares of the company's stock after selling 19,332 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in MGM Resorts International were worth $2,449,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the period. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the fourth quarter worth about $28,000. Global Retirement Partners LLC lifted 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 purchasing an additional 404 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in MGM Resorts International during the third quarter valued at approximately $55,000. Finally, Quarry LP grew its stake in shares of MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock valued at $50,000 after purchasing an additional 1,276 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Macquarie decreased their price target on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Mizuho increased their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, Susquehanna raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.94.

MGM Resorts International Trading Up 1.1 %

Shares of NYSE:MGM traded up $0.37 during midday trading on Friday, hitting $32.58. The company had a trading volume of 2,847,867 shares, compared to its average volume of 4,705,358. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The firm has a fifty day simple moving average of $30.60 and a 200 day simple moving average of $34.03. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.98 and a beta of 1.78.

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

MGM Resorts International announced that its board has approved a stock repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 22.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm's stock in a transaction 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 purchase, the chief financial officer now owns 75,648 shares of the company's stock, 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. 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.