Mount Lucas Management LP Decreases Position in MGM Resorts International (NYSE:MGM)

Mount Lucas Management LP lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,595 shares of the company’s stock after selling 1,821 shares during the period. Mount Lucas Management LP’s holdings in MGM Resorts International were worth $298,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AlphaQuest LLC grew its stake in MGM Resorts International by 1,399.6% in the 4th quarter. AlphaQuest LLC now owns 29,033 shares of the company’s stock valued at $1,006,000 after buying an additional 27,097 shares in the last quarter. Amundi grew its stake in MGM Resorts International by 207.5% in the 4th quarter. Amundi now owns 836,144 shares of the company’s stock valued at $27,334,000 after buying an additional 564,202 shares in the last quarter. Davis Selected Advisers grew its stake in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in MGM Resorts International in the 4th quarter valued at approximately $60,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Mizuho raised their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Price Performance

MGM stock opened at $31.86 on Tuesday. MGM Resorts International has a 12 month low of $30.69 and a 12 month high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $34.40 and a 200 day moving average price of $36.48. The stock has a market cap of $9.10 billion, a PE ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

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.