Pathstone Holdings LLC Lowers Stock Holdings in MGM Resorts International (NYSE:MGM)

Pathstone Holdings LLC lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 35,559 shares of the company’s stock after selling 460 shares during the period. Pathstone Holdings LLC’s holdings in MGM Resorts International were worth $1,390,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MGM. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the second quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. Finally, UMB Bank n.a. grew its position in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.13% of the stock is owned by company insiders.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $37.37 on Friday. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.74 and a beta of 2.23. The firm’s fifty day simple moving average is $38.69 and its 200-day simple moving average is $39.65. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

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 analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on MGM shares. Susquehanna boosted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. JMP Securities lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft dropped 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. Morgan Stanley upped their price objective 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. Finally, Macquarie cut their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

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.