Eos Management L.P. Has $4.47 Million Holdings in MGM Resorts International (NYSE:MGM)

Eos Management L.P. trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 9.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 100,145 shares of the company’s stock after selling 10,285 shares during the quarter. MGM Resorts International accounts for 2.0% of Eos Management L.P.’s holdings, making the stock its 11th biggest position. Eos Management L.P.’s holdings in MGM Resorts International were worth $4,474,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in shares of MGM Resorts International during the fourth quarter worth about $28,000. Sandy Spring Bank raised its holdings in MGM Resorts International by 140.8% during the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. Park Place Capital Corp boosted its position in MGM Resorts International by 618.1% during the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock valued at $36,000 after purchasing an additional 853 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 2.6 %

NYSE MGM traded down $1.10 during trading hours on Friday, reaching $41.08. The company’s stock had a trading volume of 4,681,252 shares, compared to its average volume of 3,803,543. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market cap of $13.02 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.76 and a beta of 2.19. The firm has a fifty day simple moving average of $43.74 and a 200-day simple moving average of $42.10.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Equities analysts forecast that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MGM. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target for the company. Morgan Stanley increased their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank Of America (Bofa) increased their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Macquarie restated an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.34.

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.