Selz Capital LLC decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 598,528 shares of the company’s stock after selling 15,000 shares during the period. MGM Resorts International accounts for about 3.7% of Selz Capital LLC’s holdings, making the stock its 9th largest holding. Selz Capital LLC owned about 0.11% of MGM Resorts International worth $16,704,000 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. Raymond James Financial Services Advisors Inc. raised its position in MGM Resorts International by 13.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 53,964 shares of the company’s stock valued at $1,567,000 after purchasing an additional 6,435 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of MGM Resorts International by 8.2% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 415,697 shares of the company’s stock worth $12,068,000 after acquiring an additional 31,340 shares during the period. Toronto Dominion Bank grew its holdings in shares of MGM Resorts International by 45.4% during the 2nd quarter. Toronto Dominion Bank now owns 569,209 shares of the company’s stock worth $17,416,000 after acquiring an additional 177,830 shares during the period. Morgan Stanley grew its holdings in shares of MGM Resorts International by 71.5% during the 2nd quarter. Morgan Stanley now owns 6,199,539 shares of the company’s stock worth $179,973,000 after acquiring an additional 2,584,993 shares during the period. Finally, Global X Management Co LLC grew its holdings in shares of MGM Resorts International by 46.0% during the 2nd quarter. Global X Management Co LLC now owns 38,332 shares of the company’s stock worth $1,113,000 after acquiring an additional 12,073 shares during the period. 79.79% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Daniel D’arrigo sold 29,377 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $29.23, for a total value of $858,689.71. Following the transaction, the chief financial officer now directly owns 260,676 shares of the company’s stock, valued at approximately $7,619,559.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexis Herman sold 1,750 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $28.28, for a total value of $49,490.00. The disclosure for this sale can be found here. Insiders have sold a total of 34,627 shares of company stock worth $1,009,155 over the last three months. Insiders own 0.43% of the company’s stock.

A number of research firms have weighed in on MGM. Bank of America reiterated a “buy” rating and set a $30.00 target price on shares of MGM Resorts International in a report on Tuesday. Zacks Investment Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine downgraded MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Nomura cut their price target on MGM Resorts International from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Monday, July 9th. Finally, Telsey Advisory Group cut their price target on MGM Resorts International from $34.00 to $31.00 and set a “market perform” rating on the stock in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.50.

Shares of NYSE MGM traded down $0.13 during midday trading on Wednesday, hitting $27.48. 32,537 shares of the stock traded hands, compared to its average volume of 9,081,624. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.59 and a beta of 1.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.68 and a quick ratio of 0.64. MGM Resorts International has a one year low of $25.70 and a one year high of $38.41.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.97 billion. MGM Resorts International had a return on equity of 5.07% and a net margin of 17.11%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Equities research analysts anticipate that MGM Resorts International will post 1.16 EPS for the current year.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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