Frontier Capital Management Co. LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,660,638 shares of the company’s stock after selling 580,345 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.29% of MGM Resorts International worth $55,449,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in MGM Resorts International in the 3rd quarter worth approximately $87,164,000. Advisor Group Inc. increased its holdings in MGM Resorts International by 35.3% in the 2nd quarter. Advisor Group Inc. now owns 24,967 shares of the company’s stock worth $780,000 after acquiring an additional 6,509 shares in the last quarter. Janus Henderson Group PLC increased its holdings in MGM Resorts International by 1,978.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,106,856 shares of the company’s stock worth $34,634,000 after acquiring an additional 1,053,597 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in MGM Resorts International by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock worth $23,209,000 after acquiring an additional 34,625 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in MGM Resorts International in the 2nd quarter worth approximately $269,000. 82.96% of the stock is owned by institutional investors.
Shares of MGM Resorts International (NYSE MGM) opened at $36.35 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. MGM Resorts International has a fifty-two week low of $25.15 and a fifty-two week high of $36.68. The stock has a market cap of $20,420.60, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 6.27 and a beta of 1.45.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. MGM Resorts International had a net margin of 5.44% and a return on equity of 6.47%. equities research analysts anticipate that MGM Resorts International will post 1.09 earnings per share for the current year.
MGM has been the subject of several analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a report on Tuesday, January 9th. Susquehanna Bancshares reissued a “neutral” rating and issued a $33.00 target price (down from $38.00) on shares of MGM Resorts International in a report on Tuesday, October 3rd. Barclays reissued an “overweight” rating on shares of MGM Resorts International in a report on Monday, October 2nd. Stifel Nicolaus lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $38.00 to $33.00 in a report on Wednesday, October 18th. Finally, UBS Group lowered shares of MGM Resorts International from a “positive” rating to a “neutral” rating in a report on Tuesday, October 3rd. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $37.20.
In other news, Director William A. Bible sold 6,128 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $33.23, for a total transaction of $203,633.44. Following the completion of the transaction, the director now directly owns 27,081 shares in the company, valued at approximately $899,901.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sean Charland bought 25,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were purchased at an average price of $22.50 per share, with a total value of $562,500.00. Over the last ninety days, insiders have sold 96,877 shares of company stock valued at $3,187,002. Insiders own 12.20% of the company’s stock.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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