MGM Resorts International (NYSE:MGM) Shares Sold by Matthew 25 Management Corp

Matthew 25 Management Corp lowered its position in MGM Resorts International (NYSE:MGM) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,000 shares of the company’s stock after selling 45,000 shares during the quarter. MGM Resorts International accounts for approximately 2.6% of Matthew 25 Management Corp’s holdings, making the stock its 16th biggest holding. Matthew 25 Management Corp’s holdings in MGM Resorts International were worth $8,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in shares of MGM Resorts International by 8.4% in the 3rd quarter. Creative Planning now owns 77,682 shares of the company’s stock valued at $3,037,000 after purchasing an additional 6,040 shares in the last quarter. Blue Trust Inc. raised its stake in shares of MGM Resorts International by 120.6% in the 3rd quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock valued at $53,000 after purchasing an additional 737 shares in the last quarter. Raymond James & Associates raised its stake in shares of MGM Resorts International by 22.6% in the 3rd quarter. Raymond James & Associates now owns 468,269 shares of the company’s stock valued at $18,305,000 after purchasing an additional 86,370 shares in the last quarter. Eastern Bank acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. Finally, International Assets Investment Management LLC raised its stake in shares of MGM Resorts International by 6,902.6% in the 3rd quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock valued at $1,705,000 after purchasing an additional 43,003 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE MGM opened at $36.02 on Friday. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company has a 50-day moving average price of $34.53 and a two-hundred day moving average price of $36.81.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MGM. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares increased their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

Insider Activity

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This 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 available at the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction 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. 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.