Signaturefd LLC Sells 1,537 Shares of MGM Resorts International (NYSE:MGM)

Signaturefd LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,927 shares of the company’s stock after selling 1,537 shares during the quarter. Signaturefd LLC’s holdings in MGM Resorts International were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Brooklyn Investment Group bought a new stake in MGM Resorts International during the third quarter worth about $44,000. Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $46,000. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Barclays restated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Finally, Morgan Stanley increased their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Down 0.5 %

Shares of MGM stock opened at $32.52 on Friday. The firm has a fifty day moving average of $34.03 and a 200-day moving average of $36.12. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.25. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.