Epoch Investment Partners Inc. Sells 1,049 Shares of MGM Resorts International (NYSE:MGM)

Epoch Investment Partners Inc. decreased its position in shares of MGM Resorts International (NYSE:MGM) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,423 shares of the company’s stock after selling 1,049 shares during the quarter. Epoch Investment Partners Inc.’s holdings in MGM Resorts International were worth $539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MGM. HB Wealth Management LLC bought a new position in shares of MGM Resorts International during the 4th quarter worth $200,000. CVA Family Office LLC bought a new stake in MGM Resorts International during the fourth quarter valued at about $28,000. Assenagon Asset Management S.A. boosted its position in MGM Resorts International by 30.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 87,163 shares of the company’s stock valued at $3,894,000 after purchasing an additional 20,583 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in MGM Resorts International during the fourth quarter valued at about $96,000. Finally, Mirador Capital Partners LP boosted its position in MGM Resorts International by 6.8% during the fourth quarter. Mirador Capital Partners LP now owns 71,787 shares of the company’s stock valued at $3,207,000 after purchasing an additional 4,584 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of NYSE:MGM traded up $0.40 during trading on Friday, hitting $41.84. The stock had a trading volume of 2,738,119 shares, compared to its average volume of 3,094,533. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 0.87 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a 50-day simple moving average of $42.02 and a two-hundred day simple moving average of $42.83.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. On average, equities research analysts expect that MGM Resorts International will post 3 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock worth $5,991,759. 2.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGM shares. JMP Securities raised their price objective on MGM Resorts International from $58.00 to $59.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 17th. Morgan Stanley dropped their price objective on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Mizuho raised their price objective on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company decreased their price target on MGM Resorts International from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, BTIG Research initiated coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target for the company. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $54.66.

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.