MGM Resorts International (NYSE:MGM) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lowered its stake in MGM Resorts International (NYSE:MGM) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,045 shares of the company’s stock after selling 1,852 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in MGM Resorts International were worth $627,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the second quarter worth about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the last quarter. Eastern Bank acquired a new position in MGM Resorts International during the third quarter worth $35,000. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of MGM Resorts International in the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $37.51 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $11.17 billion, a PE ratio of 13.40, a P/E/G ratio of 2.66 and a beta of 2.23. The firm has a fifty day simple moving average of $38.57 and a two-hundred day simple moving average of $39.75. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company posted $0.64 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MGM shares. Wells Fargo & Company reduced their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

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.