Calamos Advisors LLC Sells 2,461 Shares of MGM Resorts International (NYSE:MGM)

Calamos Advisors LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 1.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 188,354 shares of the company’s stock after selling 2,461 shares during the period. Calamos Advisors LLC’s holdings in MGM Resorts International were worth $8,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. raised its holdings in MGM Resorts International by 17.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock valued at $713,390,000 after acquiring an additional 3,098,142 shares during the period. Davis Selected Advisers bought a new stake in MGM Resorts International during the third quarter valued at about $361,915,000. Morgan Stanley raised its holdings in MGM Resorts International by 12.8% during the fourth quarter. Morgan Stanley now owns 6,717,202 shares of the company’s stock valued at $225,228,000 after acquiring an additional 764,699 shares during the period. Geode Capital Management LLC raised its holdings in MGM Resorts International by 0.9% during the first quarter. Geode Capital Management LLC now owns 6,484,714 shares of the company’s stock valued at $287,398,000 after acquiring an additional 60,969 shares during the period. Finally, Norges Bank bought a new stake in MGM Resorts International during the fourth quarter valued at about $165,932,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Trading Up 0.9 %

MGM opened at $42.42 on Friday. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The stock has a 50-day moving average of $43.91 and a 200 day moving average of $41.90. The firm has a market cap of $13.45 billion, a P/E ratio of 13.38, a P/E/G ratio of 1.73 and a beta of 2.19. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

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. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that MGM Resorts International will post 2.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MGM. Macquarie reaffirmed an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Mizuho began coverage on MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Barclays reduced their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.