Triangle Securities Wealth Management Cuts Holdings in MGM Resorts International (NYSE:MGM)

Triangle Securities Wealth Management lessened its position in shares of MGM Resorts International (NYSE:MGM) by 2.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,171 shares of the company’s stock after selling 500 shares during the quarter. Triangle Securities Wealth Management’s holdings in MGM Resorts International were worth $803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Quent Capital LLC boosted its holdings in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after purchasing an additional 304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after buying an additional 309 shares during the last quarter. Lazari Capital Management Inc. grew its position in shares of MGM Resorts International by 6.3% during the 2nd quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company’s stock valued at $250,000 after buying an additional 333 shares during the last quarter. ProShare Advisors LLC lifted its holdings in MGM Resorts International by 0.8% in the second quarter. ProShare Advisors LLC now owns 57,876 shares of the company’s stock worth $2,572,000 after acquiring an additional 431 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in MGM Resorts International by 1.6% in the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock valued at $1,113,000 after acquiring an additional 459 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Down 0.8 %

MGM opened at $32.85 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $9.78 billion, a PE ratio of 11.73, a P/E/G ratio of 3.04 and a beta of 2.21. The stock’s fifty day moving average is $35.57 and its 200-day moving average is $38.11. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued 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). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.64 earnings per share. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Jefferies Financial Group reduced their price target 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday. Finally, Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

Insider Buying and Selling

In other 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 transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.83% of the company’s stock.

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.