Mirador Capital Partners LP Reduces Position in MGM Resorts International (NYSE:MGM)

Mirador Capital Partners LP trimmed its holdings in MGM Resorts International (NYSE:MGM) by 40.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,872 shares of the company’s stock after selling 4,024 shares during the period. Mirador Capital Partners LP’s holdings in MGM Resorts International were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Marshall Wace LLP raised its holdings in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after purchasing an additional 62,997 shares during the last quarter. Goldentree Asset Management LP lifted its position in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Maverick Capital Ltd. acquired a new position in MGM Resorts International during the second quarter worth $1,211,000. Finally, Miracle Mile Advisors LLC acquired a new position in MGM Resorts International during the fourth quarter worth $2,010,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGM has been the topic of several analyst reports. Jefferies Financial Group reduced their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday. Finally, Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Four 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 currently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Trading Up 0.4 %

Shares of NYSE MGM opened at $33.13 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $9.86 billion, a PE ratio of 11.83, a PEG ratio of 3.04 and a beta of 2.21. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock has a fifty day simple moving average of $35.65 and a 200-day simple moving average of $38.21.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that MGM Resorts International will post 2.43 earnings per share for the current year.

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 that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.83% of the company’s stock.

MGM Resorts International 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.