D.A. Davidson & CO. Lowers Holdings in MGM Resorts International (NYSE:MGM)

D.A. Davidson & CO. trimmed its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 207,361 shares of the company's stock after selling 23,840 shares during the period. D.A. Davidson & CO. owned approximately 0.06% of MGM Resorts International worth $9,265,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. CVA Family Office LLC purchased a new position in shares of MGM Resorts International during the fourth quarter worth $28,000. Massmutual Trust Co. FSB ADV boosted its position in shares of MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company's stock worth $49,000 after buying an additional 367 shares during the period. Sandy Spring Bank boosted its holdings in MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company's stock valued at $51,000 after purchasing an additional 288 shares during the period. Sunbelt Securities Inc. boosted its holdings in MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company's stock valued at $44,000 after purchasing an additional 1,000 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in MGM Resorts International in the fourth quarter valued at $83,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MGM. Susquehanna upgraded MGM Resorts International from a "neutral" rating to a "positive" rating and lifted their target price for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Macquarie reiterated an "outperform" rating and issued a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft lifted their target price on MGM Resorts International from $50.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 14th. StockNews.com cut MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Friday, May 10th. Finally, JMP Securities raised their price target on MGM Resorts International from $57.00 to $58.00 and gave the company a "market outperform" rating in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and an average price target of $54.83.

MGM Resorts International Stock Performance

Shares of MGM traded down $0.61 during midday trading on Wednesday, reaching $40.20. 3,239,076 shares of the stock were exchanged, compared to its average volume of 3,828,216. The business's 50-day moving average price is $43.17 and its 200 day moving average price is $42.78. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 0.91 and a beta of 2.22.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business had revenue of $4.38 billion for the quarter, compared to analysts' expectations of $4.24 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business's revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts expect that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company's stock, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Insiders have sold 333,688 shares of company stock worth $14,300,967 in the last quarter. Company insiders own 2.83% of the company's stock.

MGM Resorts International Company 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.