Rockefeller Capital Management L.P. Sells 75,737 Shares of MGM Resorts International (NYSE:MGM)

Rockefeller Capital Management L.P. lowered its position in MGM Resorts International (NYSE:MGM - Free Report) by 78.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,785 shares of the company's stock after selling 75,737 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in MGM Resorts International were worth $816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock valued at $177,777,000 after buying an additional 90,645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock valued at $89,832,000 after purchasing an additional 123,124 shares in the last quarter. FMR LLC raised its position in MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company's stock valued at $65,738,000 after purchasing an additional 79,486 shares in the last quarter. Empower Advisory Group LLC lifted its stake in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after purchasing an additional 62,997 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock worth $49,330,000 after purchasing an additional 706,159 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Down 0.2 %

MGM Resorts International stock traded down $0.08 during mid-day trading on Tuesday, reaching $36.52. 3,352,097 shares of the company traded hands, compared to its average volume of 4,072,741. The firm's 50 day moving average price is $38.56 and its 200 day moving average price is $39.42. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 3.13 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.64 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 121,000 shares of the company's stock in a transaction that occurred on 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 owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on MGM shares. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. JMP Securities reduced their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Barclays decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Mizuho reduced their price objective on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.85.

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.