MGM Resorts International (NYSE:MGM) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 1.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Savoir Faire Capital Management L.P. grew its holdings in MGM Resorts International by 43.7% in the third quarter. Savoir Faire Capital Management L.P. now owns 63,191 shares of the company’s stock valued at $2,470,000 after purchasing an additional 19,231 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at approximately $28,000. Quest Partners LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at approximately $76,000. Aljian Capital Management LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at $326,000. Finally, Marathon Trading Investment Management LLC purchased a new stake in MGM Resorts International in the 3rd quarter worth $274,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $37.37 on Friday. The company’s 50-day moving average is $38.69 and its two-hundred day moving average is $39.65. The firm 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 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 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last released 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). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. Analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

MGM has been the topic of several recent analyst reports. Barclays decreased 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 report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Macquarie cut their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Mizuho decreased their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley lifted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.85.

MGM Resorts International 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.