B. Riley Wealth Advisors Inc. Lowers Stock Holdings in MGM Resorts International (NYSE:MGM)

B. Riley Wealth Advisors Inc. trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 11.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,285 shares of the company’s stock after selling 670 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in MGM Resorts International were worth $236,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $28,000. Sunbelt Securities Inc. boosted its stake in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the period. Sandy Spring Bank boosted its stake in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after buying an additional 288 shares during the period. Finally, RIA Advisory Group LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at about $83,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 2.2 %

NYSE:MGM opened at $43.37 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm has a market cap of $13.60 billion, a P/E ratio of 16.68, a PEG ratio of 0.91 and a beta of 2.24. The stock’s 50 day simple moving average is $40.83 and its 200-day simple moving average is $42.89.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts anticipate that MGM Resorts International will post 2.9 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares in the company, valued at $236,957,290.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders have sold a total of 147,988 shares of company stock worth $5,991,759 over the last three months. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JMP Securities lifted their price objective on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research note on Monday, May 6th. Barclays raised their target price on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho raised their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and raised their target price for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.