Nebula Research & Development LLC Trims Stake in MGM Resorts International (NYSE:MGM)

Nebula Research & Development LLC lessened its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 55.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,397 shares of the company's stock after selling 42,034 shares during the period. Nebula Research & Development LLC's holdings in MGM Resorts International were worth $1,157,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Orvieto Partners L.P. purchased a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $2,869,000. Stifel Financial Corp increased its position in MGM Resorts International by 12.1% in the fourth quarter. Stifel Financial Corp now owns 190,438 shares of the company's stock worth $6,599,000 after buying an additional 20,609 shares during the last quarter. State of Tennessee Department of Treasury increased its position in MGM Resorts International by 65.4% in the fourth quarter. State of Tennessee Department of Treasury now owns 60,099 shares of the company's stock worth $2,082,000 after buying an additional 23,766 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of MGM Resorts International by 8.9% in 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. Finally, Tower Research Capital LLC TRC lifted its position in shares of MGM Resorts International by 127.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,613 shares of the company's stock valued at $749,000 after buying an additional 12,108 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on MGM Resorts International from $47.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. JMP Securities cut their price objective on shares of MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and an average price target of $50.06.

MGM Resorts International Price Performance

NYSE:MGM traded down $0.30 during midday trading on Wednesday, hitting $31.50. The company had a trading volume of 6,414,961 shares, compared to its average volume of 4,684,952. 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 stock's fifty day moving average price is $31.08 and its 200-day moving average price is $34.46. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a market capitalization of $8.91 billion, a PE ratio of 13.13, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.16. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the firm's 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 of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was 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.

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.