Key Colony Management LLC Has $37.77 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Key Colony Management LLC cut its holdings in MGM Resorts International (NYSE:MGMFree Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 800,000 shares of the company’s stock after selling 45,000 shares during the period. MGM Resorts International makes up approximately 38.2% of Key Colony Management LLC’s portfolio, making the stock its biggest position. Key Colony Management LLC owned approximately 0.25% of MGM Resorts International worth $37,768,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MGM. Capital World Investors grew its stake in shares of MGM Resorts International by 17.7% in the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after buying an additional 984,617 shares during the period. Boston Partners grew its stake in shares of MGM Resorts International by 36.3% in the 4th quarter. Boston Partners now owns 5,427,254 shares of the company’s stock valued at $242,002,000 after buying an additional 1,446,362 shares during the period. Fisher Asset Management LLC grew its stake in shares of MGM Resorts International by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock valued at $194,686,000 after buying an additional 213,528 shares during the period. Invesco Ltd. grew its stake in shares of MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after buying an additional 500,566 shares during the period. Finally, Norges Bank acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at about $139,599,000. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

MGM has been the subject of a number of analyst reports. Barclays lifted their price target on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho boosted their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JMP Securities boosted their target price on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday, May 6th. Finally, Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

Get Our Latest Stock Analysis on MGM

MGM Resorts International Price Performance

Shares of MGM traded up $0.41 during mid-day trading on Friday, reaching $42.11. 866,262 shares of the stock traded hands, compared to its average volume of 3,753,037. The firm has a fifty day moving average price of $40.83 and a 200 day moving average price of $42.81. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.88 and a beta of 2.24. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts predict that MGM Resorts International will post 2.9 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now directly owns 5,859,478 shares in the company, valued at $236,957,290.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares in the company, valued at $236,957,290.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock worth $5,991,759. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.