New York Life Investment Management LLC Sells 359 Shares of MGM Resorts International (NYSE:MGM)

New York Life Investment Management LLC decreased its position in shares of MGM Resorts International (NYSE:MGM) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,687 shares of the company’s stock after selling 359 shares during the quarter. New York Life Investment Management LLC’s holdings in MGM Resorts International were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC raised its holdings in MGM Resorts International by 6,902.6% during the 3rd quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock worth $1,705,000 after purchasing an additional 43,003 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of MGM Resorts International by 12.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company’s stock valued at $379,000 after acquiring an additional 1,084 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of MGM Resorts International by 4.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company’s stock valued at $2,776,000 after acquiring an additional 3,285 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of MGM Resorts International by 58.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 163,120 shares of the company’s stock valued at $6,376,000 after acquiring an additional 60,377 shares in the last quarter. Finally, Malaga Cove Capital LLC increased its stake in shares of MGM Resorts International by 76.2% in the 3rd quarter. Malaga Cove Capital LLC now owns 12,196 shares of the company’s stock valued at $477,000 after acquiring an additional 5,276 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction 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 sale, the director now directly owns 5,687,478 shares in the company, 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 SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGM. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Mizuho lifted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, February 14th. Finally, Morgan Stanley lifted their price target on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Price Performance

MGM opened at $33.22 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.98 and a beta of 2.20. The firm’s fifty day moving average price is $34.62 and its two-hundred day moving average price is $36.73. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

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

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.