MGM Resorts International (NYSE:MGM) Stock Holdings Decreased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lowered its position in shares of MGM Resorts International (NYSE:MGM) by 27.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,384 shares of the company’s stock after selling 527 shares during the quarter. Raleigh Capital Management Inc.’s holdings in MGM Resorts International were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MGM. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at $28,000. MCF Advisors LLC raised its position in MGM Resorts International by 20.4% during the fourth quarter. MCF Advisors LLC now owns 22,075 shares of the company’s stock valued at $765,000 after buying an additional 3,744 shares during the period. Ballentine Partners LLC lifted its stake in MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in MGM Resorts International by 6.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock worth $926,000 after acquiring an additional 1,585 shares during the period. Finally, Merit Financial Group LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $243,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE MGM opened at $33.14 on Friday. The company has a market cap of $9.87 billion, a P/E ratio of 11.83, a P/E/G ratio of 3.11 and a beta of 2.21. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $35.23 and a 200 day simple moving average of $37.86.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business 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 business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that MGM Resorts International will post 2.41 EPS for the current year.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MGM. Morgan Stanley increased their price target on shares of 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. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

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.