Frontier Capital Management Co. LLC lowered its position in MGM Resorts International (NYSE:MGM) by 25.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,660,638 shares of the company’s stock after selling 580,345 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 0.29% of MGM Resorts International worth $55,449,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spirit of America Management Corp NY purchased a new stake in MGM Resorts International in the third quarter valued at approximately $104,000. Sun Life Financial INC purchased a new stake in MGM Resorts International in the third quarter valued at approximately $124,000. Toronto Dominion Bank lifted its stake in MGM Resorts International by 12.4% in the second quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after buying an additional 624 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in MGM Resorts International in the third quarter valued at approximately $197,000. Finally, Colony Group LLC purchased a new stake in shares of MGM Resorts International during the second quarter worth approximately $203,000. Institutional investors own 82.15% of the company’s stock.
Shares of MGM Resorts International (NYSE MGM) traded down $0.07 during mid-day trading on Friday, reaching $33.43. The company had a trading volume of 17,960,000 shares, compared to its average volume of 8,310,000. MGM Resorts International has a 52-week low of $25.15 and a 52-week high of $38.41. The firm has a market capitalization of $18,930.00, a price-to-earnings ratio of 32.77, a PEG ratio of 5.88 and a beta of 1.43. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.33 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.33. MGM Resorts International had a return on equity of 6.47% and a net margin of 5.44%. equities research analysts anticipate that MGM Resorts International will post 1.09 earnings per share for the current year.
Several equities research analysts have recently commented on the company. Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Roth Capital assumed coverage on MGM Resorts International in a research note on Wednesday, October 25th. They set a “buy” rating and a $38.00 price target for the company. Nomura cut their price target on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Jefferies Group assumed coverage on MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on MGM Resorts International from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $37.38.
In related news, Director William A. Bible sold 6,128 shares of the company’s stock in a transaction 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 transaction, the director now owns 27,081 shares of the company’s stock, valued at $899,901.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Baldwin sold 61,600 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $32.56, for a total value of $2,005,696.00. Following the transaction, the insider now directly owns 70,049 shares in the company, valued at approximately $2,280,795.44. The disclosure for this sale can be found here. Insiders have sold 96,877 shares of company stock worth $3,187,002 in the last ninety days. 12.20% of the stock is currently owned by corporate insiders.
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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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