D.A. Davidson & CO. Sells 6,953 Shares of MGM Resorts International (NYSE:MGM)

D.A. Davidson & CO. decreased its position in MGM Resorts International (NYSE:MGM) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,780 shares of the company’s stock after selling 6,953 shares during the period. D.A. Davidson & CO. owned 0.10% of MGM Resorts International worth $10,145,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth about $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $35,000. Brooklyn Investment Group acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $44,000. Finally, Planning Capital Management Corp acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $45,000. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the subject of several analyst reports. Barclays boosted their target price on MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, February 14th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 4.3 %

NYSE MGM opened at $38.12 on Wednesday. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.94 and a beta of 2.20. The stock’s 50 day moving average price is $34.48 and its two-hundred day moving average price is $36.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. As a group, analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current fiscal 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.