D.A. Davidson & CO. Has $10.15 Million Position in MGM Resorts International (NYSE:MGM)

D.A. Davidson & CO. cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 2.3% during the fourth quarter, Holdings Channel reports. The fund owned 292,780 shares of the company’s stock after selling 6,953 shares during the quarter. D.A. Davidson & CO.’s holdings in MGM Resorts International were worth $10,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $35,000. Brooklyn Investment Group acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $44,000. Finally, Planning Capital Management Corp acquired a new position in MGM Resorts International in the 3rd quarter valued at $45,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

Shares of MGM stock opened at $38.12 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a market cap of $11.35 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.94 and a beta of 2.20. The business has a fifty day simple moving average of $34.48 and a 200 day simple moving average of $36.76.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, sell-side analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the topic of a number of research reports. Barclays upped their price objective on MGM Resorts International from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Jefferies Financial Group decreased their price objective 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. Truist Financial decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Citigroup upped their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The stock was 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 directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.13% of the company’s stock.

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.