Raleigh Capital Management Inc. Has $48,000 Position in MGM Resorts International (NYSE:MGM)

Raleigh Capital Management Inc. decreased its holdings in MGM Resorts International (NYSE:MGM) by 27.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,384 shares of the company’s stock after selling 527 shares during the period. Raleigh Capital Management Inc.’s holdings in MGM Resorts International were worth $48,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HG Vora Capital Management LLC bought a new stake in MGM Resorts International in the third quarter valued at $97,725,000. Goldentree Asset Management LP boosted its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $17,622,000. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in MGM Resorts International by 207.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after purchasing an additional 442,975 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on MGM shares. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced 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 report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International Trading Up 1.0 %

MGM opened at $33.14 on Friday. The firm has a 50 day simple moving average of $35.23 and a 200 day simple moving average of $37.86. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.11 and a beta of 2.21. 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 (NYSE:MGM) last issued its earnings results 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 business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that MGM Resorts International will post 2.41 earnings per share for the current year.

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.