Natixis Advisors LLC Sells 17,389 Shares of MGM Resorts International (NYSE:MGM)

Natixis Advisors LLC cut its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,059 shares of the company's stock after selling 17,389 shares during the period. Natixis Advisors LLC owned approximately 0.05% of MGM Resorts International worth $5,581,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in MGM Resorts International by 0.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock worth $5,073,000 after purchasing an additional 469 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of MGM Resorts International by 11.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,114 shares of the company's stock valued at $350,000 after purchasing an additional 1,071 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of MGM Resorts International by 22.1% in the fourth quarter. Farther Finance Advisors LLC now owns 11,830 shares of the company's stock valued at $410,000 after purchasing an additional 2,145 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in MGM Resorts International by 74.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after purchasing an additional 633 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in MGM Resorts International by 14.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 57,911 shares of the company's stock valued at $2,007,000 after buying an additional 7,487 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

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MGM Resorts International Stock Performance

MGM traded down $0.39 during trading on Tuesday, hitting $32.03. The stock had a trading volume of 4,664,395 shares, compared to its average volume of 4,247,651. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a 50 day moving average price of $34.00 and a 200-day moving average price of $36.02. MGM Resorts International has a one year low of $29.99 and a one year high of $48.25. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MGM shares. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Macquarie restated an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International 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. Wedbush reissued an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Mizuho boosted their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $51.29.

Insider Buying and Selling at MGM Resorts International

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% 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.