ING Groep NV Trims Stock Holdings in MGM Resorts International (NYSE:MGM)

ING Groep NV cut its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 84.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,611 shares of the company's stock after selling 75,538 shares during the quarter. ING Groep NV's holdings in MGM Resorts International were worth $608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. CVA Family Office LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at about $28,000. Sunbelt Securities Inc. boosted its holdings in MGM Resorts International by 510.2% during 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 in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company's stock valued at $49,000 after purchasing an additional 367 shares during the period. Sandy Spring Bank grew its stake in shares of MGM Resorts International by 33.7% in the 4th 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. Finally, Huntington National Bank raised its holdings in shares of MGM Resorts International by 46.7% in the 3rd quarter. Huntington National Bank now owns 1,999 shares of the company's stock worth $73,000 after buying an additional 636 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Susquehanna upgraded shares of MGM Resorts International from a "neutral" rating to a "positive" rating and increased their target price for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Barclays lifted their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an "overweight" rating in a report on Thursday, May 2nd. TheStreet raised shares of MGM Resorts International from a "c+" rating to a "b-" rating in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $54.83.

MGM Resorts International Trading Down 3.2 %

Shares of MGM stock traded down $1.27 on Thursday, reaching $38.93. 4,457,906 shares of the stock were exchanged, compared to its average volume of 3,835,372. The stock has a market cap of $12.21 billion, a PE ratio of 15.46, a P/E/G ratio of 0.90 and a beta of 2.22. 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 one year low of $34.12 and a one year high of $51.35. The stock has a 50 day moving average price of $43.12 and a 200 day moving average price of $42.76.

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

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Alexis Herman sold 4,344 shares of the company's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 325,000 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The disclosure for this sale can be found here. Insiders have sold a total of 333,688 shares of company stock valued at $14,300,967 over the last three months. 2.13% of the stock is currently owned by corporate insiders.

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.