Triton Wealth Management PLLC Sells 500 Shares of MGM Resorts International (NYSE:MGM)

Triton Wealth Management PLLC cut its stake in MGM Resorts International (NYSE:MGM) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,611 shares of the company’s stock after selling 500 shares during the period. Triton Wealth Management PLLC’s holdings in MGM Resorts International were worth $548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC lifted its holdings in MGM Resorts International by 42.8% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company’s stock valued at $32,473,000 after buying an additional 280,700 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after buying an additional 38,749 shares in the last quarter. Korea Investment CORP grew its position in shares of MGM Resorts International by 964.3% during the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock worth $5,034,000 after buying an additional 131,636 shares during the period. ACR Alpine Capital Research LLC grew its position in shares of MGM Resorts International by 23.3% during the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after buying an additional 30,605 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MGM. Barclays raised their price target on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Citigroup raised their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, JMP Securities reduced their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a “market outperform” rating for the company in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.94.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Corey Ian Sanders sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the transaction, the chief operating officer now directly owns 281,530 shares in the company, valued at $9,693,077.90. This trade represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $31.98 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock has a market cap of $8.70 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The stock has a fifty day moving average of $30.90 and a 200-day moving average of $33.53.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. MGM Resorts International’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International declared that its board has approved a share repurchase plan on Wednesday, April 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 22.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

MGM Resorts International Company 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.