MGM Resorts International (NYSE:MGM) Shares Sold by Eos Management L.P.

Eos Management L.P. reduced its position in shares of MGM Resorts International (NYSE:MGM) by 28.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,269 shares of the company’s stock after selling 13,633 shares during the period. Eos Management L.P.’s holdings in MGM Resorts International were worth $1,187,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Assetmark Inc. grew its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Brooklyn Investment Group bought a new position in MGM Resorts International in the third quarter worth about $44,000. Finally, Planning Capital Management Corp acquired a new position in MGM Resorts International in the third quarter valued at approximately $45,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Down 0.5 %

MGM opened at $31.86 on Tuesday. The stock’s fifty day moving average is $34.40 and its 200-day moving average is $36.48. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. The company has a market capitalization of $9.10 billion, a PE ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on MGM shares. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Citigroup increased their target price on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, February 14th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

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.