MGM Resorts International (NYSE:MGM) Stock Holdings Decreased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its stake in shares of MGM Resorts International (NYSE:MGM) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,099 shares of the company’s stock after selling 432 shares during the period. Orion Portfolio Solutions LLC’s holdings in MGM Resorts International were worth $278,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. HG Vora Capital Management LLC bought a new position in MGM Resorts International during the 3rd quarter worth approximately $97,725,000. Goldentree Asset Management LP lifted its stake in MGM Resorts International by 86.4% during the third 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. Marshall Wace LLP boosted its holdings in MGM Resorts International by 174.8% in the second 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 during the period. LSV Asset Management bought a new stake in MGM Resorts International during the second quarter valued at $21,149,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth $17,622,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 5,687,478 shares in the company, 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 legal filing with the SEC, which is available at this link. 2.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Morgan Stanley increased their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Mizuho reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut 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 research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.54.

MGM Resorts International Trading Down 1.1 %

Shares of NYSE:MGM opened at $33.44 on Friday. MGM Resorts International has a 12-month low of $33.28 and a 12-month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $9.96 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The firm has a fifty day moving average of $38.03 and a two-hundred day moving average of $39.28.

MGM Resorts International (NYSE:MGM) last announced 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 return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the firm earned $0.64 EPS. MGM Resorts International’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

About MGM Resorts International

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.