Taylor & Morgan Wealth Management LLC Sells 2,649 Shares of MGM Resorts International (NYSE:MGM)

Taylor & Morgan Wealth Management LLC decreased its holdings in MGM Resorts International (NYSE:MGM) by 30.3% in the fourth quarter, Holdings Channel reports. The firm owned 6,108 shares of the company’s stock after selling 2,649 shares during the period. Taylor & Morgan Wealth Management LLC’s holdings in MGM Resorts International were worth $212,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP boosted its position in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares in the last quarter. Empower Advisory Group LLC lifted its stake in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares in the last quarter. Goldentree Asset Management LP boosted its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in MGM Resorts International in the 2nd quarter valued at $1,211,000. Finally, Miracle Mile Advisors LLC acquired a new stake in MGM Resorts International during the fourth quarter worth about $2,010,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MGM. Jefferies Financial Group dropped their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Barclays dropped their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley increased their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Mizuho decreased their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Down 0.8 %

NYSE:MGM opened at $32.85 on Friday. The business’s fifty day moving average price is $35.57 and its 200 day moving average price is $38.11. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 3.04 and a beta of 2.21. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Resorts International will post 2.43 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.