MGM Resorts International (NYSE:MGM) Shares Sold by Wiser Advisor Group LLC

Wiser Advisor Group LLC reduced its holdings in MGM Resorts International (NYSE:MGM) by 39.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 781 shares of the company’s stock after selling 500 shares during the quarter. Wiser Advisor Group LLC’s holdings in MGM Resorts International were worth $31,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Marshall Wace LLP lifted its holdings in MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Maverick Capital Ltd. bought a new position in MGM Resorts International during the second quarter valued at about $1,211,000. Empower Advisory Group LLC grew its holdings in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after acquiring an additional 62,997 shares during the period. Wedge Capital Management L L P NC bought a new stake in MGM Resorts International in the second quarter worth about $3,314,000. Finally, Boston Partners lifted its holdings in MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Up 0.8 %

MGM traded up $0.32 during trading on Monday, reaching $38.12. 280,922 shares of the stock traded hands, compared to its average volume of 4,080,670. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The stock’s 50-day simple moving average is $38.64 and its two-hundred day simple moving average is $39.71. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JMP Securities dropped their target price on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a report on Thursday, October 31st. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Susquehanna lifted their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.15.

Insider Activity

In related news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by 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.