Mirador Capital Partners LP Trims Stock Holdings in MGM Resorts International (NYSE:MGM)

Mirador Capital Partners LP lowered its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 86.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,896 shares of the company's stock after selling 65,307 shares during the quarter. Mirador Capital Partners LP's holdings in MGM Resorts International were worth $387,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MGM. SG Americas Securities LLC grew its position in MGM Resorts International by 309.7% in the 3rd quarter. SG Americas Securities LLC now owns 96,872 shares of the company's stock worth $3,787,000 after purchasing an additional 73,229 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in MGM Resorts International in the 2nd quarter worth approximately $3,244,000. Lazari Capital Management Inc. increased its holdings in shares of MGM Resorts International by 6.3% during the second quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company's stock valued at $250,000 after purchasing an additional 333 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter worth about $1,325,000. Finally, Cetera Investment Advisers lifted its position in MGM Resorts International by 3.4% in the second quarter. Cetera Investment Advisers now owns 66,497 shares of the company's stock worth $2,955,000 after purchasing an additional 2,174 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Keith A. Meister sold 121,000 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Salem acquired 147,500 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the transaction, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on MGM. Morgan Stanley dropped their price objective on MGM Resorts International from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 4th. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, August 1st. Macquarie cut their price objective on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.93.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $40.43 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The business's 50-day moving average price is $37.79 and its two-hundred day moving average price is $40.91. The company has a market capitalization of $12.68 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 0.68 and a beta of 2.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Analysts anticipate that MGM Resorts International will post 2.63 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.