Sigma Planning Corp Sells 3,327 Shares of MGM Resorts International (NYSE:MGM)

Sigma Planning Corp trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 35.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,186 shares of the company’s stock after selling 3,327 shares during the quarter. Sigma Planning Corp’s holdings in MGM Resorts International were worth $242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the second quarter worth $28,000. Eastern Bank acquired a new position in MGM Resorts International during the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its holdings in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares during the period. UMB Bank n.a. grew its position in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of MGM Resorts International in the second quarter valued at about $49,000. 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 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Down 0.6 %

MGM opened at $37.28 on Friday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company’s 50-day moving average price is $38.44 and its two-hundred day moving average price is $39.82. The stock has a market cap of $11.10 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.71 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 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 firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company posted $0.64 EPS. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts expect that MGM Resorts International will post 2.5 earnings per share for the current year.

Analyst Ratings Changes

MGM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. JMP Securities decreased their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lifted their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial decreased their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Company 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.