Grove Bank & Trust Cuts Stock Holdings in MGM Resorts International (NYSE:MGM)

Grove Bank & Trust trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,030 shares of the company’s stock after selling 1,368 shares during the period. Grove Bank & Trust’s holdings in MGM Resorts International were worth $135,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bamco Inc. NY boosted its holdings in shares of MGM Resorts International by 4.5% during the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock worth $70,302,000 after purchasing an additional 82,134 shares during the period. Black Swift Group LLC grew its position in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock worth $3,860,000 after purchasing an additional 60,000 shares during the period. Allworth Financial LP grew its position in MGM Resorts International by 122.0% in the 4th quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock worth $306,000 after purchasing an additional 3,760 shares during the period. Boston Partners grew its position in shares of MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after acquiring an additional 3,723,659 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in shares of MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after acquiring an additional 1,686,267 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 2.8 %

Shares of NYSE MGM opened at $43.68 on Monday. The firm’s 50-day moving average price is $44.21 and its 200-day moving average price is $41.77. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 1.83 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays dropped their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $55.34.

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.