Amalgamated Bank Sells 24,747 Shares of MGM Resorts International (NYSE:MGM)

Amalgamated Bank reduced its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,281 shares of the company's stock after selling 24,747 shares during the period. Amalgamated Bank's holdings in MGM Resorts International were worth $3,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MGM. Davis Selected Advisers bought a new position in shares of MGM Resorts International in the third quarter valued at about $361,915,000. Boston Partners boosted its stake in MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company's stock worth $145,916,000 after acquiring an additional 3,723,659 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in MGM Resorts International by 544.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company's stock valued at $73,364,000 after purchasing an additional 1,686,267 shares in the last quarter. Invesco Ltd. increased its holdings in MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company's stock worth $144,840,000 after purchasing an additional 500,566 shares in the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $13,930,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Down 0.7 %

Shares of MGM Resorts International stock traded down $0.28 during trading hours on Friday, reaching $40.57. 2,033,779 shares of the company's stock were exchanged, compared to its average volume of 3,893,991. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The stock has a market cap of $12.73 billion, a P/E ratio of 15.71, a P/E/G ratio of 0.95 and a beta of 2.22. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $43.38 and a two-hundred day moving average of $42.37.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business earned $0.44 EPS. MGM Resorts International's quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts forecast that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 325,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company's stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.13% of the company's stock.

Wall Street Analysts Forecast Growth

MGM has been the subject of several research reports. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. StockNews.com lowered shares of MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Friday. Susquehanna raised shares of MGM Resorts International from a "neutral" rating to a "positive" rating and raised their price objective for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Morgan Stanley raised their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Finally, JMP Securities increased their target price on MGM Resorts International from $57.00 to $58.00 and gave the stock a "market outperform" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $54.83.

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.