DekaBank Deutsche Girozentrale Sells 1,679 Shares of MGM Resorts International (NYSE:MGM)

DekaBank Deutsche Girozentrale lowered its position in shares of MGM Resorts International (NYSE:MGM) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,666 shares of the company’s stock after selling 1,679 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in MGM Resorts International were worth $2,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners raised its position in shares of MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Bamco Inc. NY raised its position in shares of MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock worth $99,191,000 after acquiring an additional 73,515 shares during the last quarter. Marshall Wace LLP raised its position in shares of MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Key Colony Management LLC grew its stake in shares of MGM Resorts International by 11.1% during the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after purchasing an additional 88,000 shares during the period. Finally, Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International during the first quarter worth $35,726,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $36.41 on Friday. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.23. The stock’s 50-day moving average is $38.46 and its 200-day moving average is $40.22. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.46%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share. Equities analysts predict that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGM shares. Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Mizuho decreased their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday. UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Macquarie decreased their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Activity

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at $1,302,166. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 216,400 shares of company stock worth $7,312,197 over the last three months. Corporate insiders own 2.13% of the company’s stock.

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.