Somerset Trust Co Sells 1,524 Shares of MGM Resorts International (NYSE:MGM)

Somerset Trust Co cut its position in shares of MGM Resorts International (NYSE:MGMFree Report) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,404 shares of the company’s stock after selling 1,524 shares during the period. Somerset Trust Co’s holdings in MGM Resorts International were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. Davis Selected Advisers bought a new position in MGM Resorts International during the third quarter valued at approximately $361,915,000. Norges Bank purchased a new stake in MGM Resorts International during the fourth quarter valued at approximately $165,932,000. Boston Partners raised its position in MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares during the period. T. Rowe Price Investment Management Inc. raised its position in MGM Resorts International by 17.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock valued at $713,390,000 after purchasing an additional 3,098,142 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares during the period. 66.46% of the stock is owned by institutional investors.

MGM Resorts International Trading Up 0.3 %

MGM traded up $0.11 during trading on Friday, hitting $42.88. 5,065,216 shares of the stock were exchanged, compared to its average volume of 4,285,350. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.44 and a beta of 2.18. The firm has a 50 day simple moving average of $43.36 and a 200 day simple moving average of $41.14. 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 announced its 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 business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business’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 EPS. As a group, equities analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

MGM has been the topic of a number of recent research reports. Barclays decreased their price objective on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.90.

Get Our Latest Stock Report on MGM Resorts International

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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

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