First Hawaiian Bank Cuts Stock Holdings in MGM Resorts International (NYSE:MGM)

First Hawaiian Bank decreased its position in MGM Resorts International (NYSE:MGM) by 8.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,924 shares of the company’s stock after selling 631 shares during the period. First Hawaiian Bank’s holdings in MGM Resorts International were worth $308,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its holdings in MGM Resorts International by 4.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock worth $194,190,000 after purchasing an additional 202,434 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of MGM Resorts International by 21.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock valued at $107,295,000 after buying an additional 416,911 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in MGM Resorts International by 41.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock valued at $465,000 after acquiring an additional 2,872 shares during the period. ACR Alpine Capital Research LLC purchased a new stake in MGM Resorts International in the 1st quarter worth $3,922,000. Finally, Texas Permanent School Fund Corp raised its position in MGM Resorts International by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after acquiring an additional 245 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGM has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Macquarie reduced their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. JMP Securities reduced their price objective on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Insider Transactions at MGM Resorts International

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

MGM Resorts International Trading Up 4.4 %

MGM Resorts International stock traded up $1.49 during trading on Tuesday, hitting $35.56. The company had a trading volume of 4,538,899 shares, compared to its average volume of 3,934,193. The company has a current ratio of 1.47, a quick ratio of 1.46 and a debt-to-equity ratio of 1.65. The company’s 50 day simple moving average is $41.92 and its 200-day simple moving average is $42.69. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that MGM Resorts International will post 3 EPS for the current fiscal year.

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.