Cwm LLC Trims Stock Position in MGM Resorts International (NYSE:MGM)

Cwm LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 11.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,567 shares of the company’s stock after selling 815 shares during the period. Cwm LLC’s holdings in MGM Resorts International were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MGM. Davis Selected Advisers bought a new stake in MGM Resorts International during the third quarter valued at $361,915,000. Boston Partners raised its stake in MGM Resorts International by 1,447.6% in the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares in the last quarter. Invesco Ltd. grew its stake in MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after buying an additional 500,566 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of MGM Resorts International by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock valued at $92,923,000 after buying an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after acquiring an additional 1,686,267 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MGM Resorts International 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 transaction, 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 the SEC website. 2.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

MGM has been the topic of a number of research reports. Mizuho raised their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Macquarie restated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Barclays increased their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.77.

MGM Resorts International Trading Up 2.8 %

NYSE MGM opened at $40.87 on Friday. The firm has a market capitalization of $12.96 billion, a PE ratio of 12.89, a P/E/G ratio of 1.62 and a beta of 2.22. The stock’s 50 day moving average is $43.58 and its 200 day moving average is $42.22. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Research analysts forecast that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

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.