Diageo P L C (DEO) Shareholder London Co Of Virginia Trimmed Stake by $19.85 Million; Covey Capital Advisors Lifted Mgm Resorts International (MGM) Holding by $600,600

May 16, 2018 - By Vivian Currie

MGM Resorts International (NYSE:MGM) Logo

Covey Capital Advisors Llc increased its stake in Mgm Resorts International (MGM) by 40.8% based on its latest 2017Q4 regulatory filing with the SEC. Covey Capital Advisors Llc bought 18,200 shares as the company’s stock rose 4.56% while stock markets declined. The institutional investor held 62,810 shares of the hotels and resorts company at the end of 2017Q4, valued at $2.10 million, up from 44,610 at the end of the previous reported quarter. Covey Capital Advisors Llc who had been investing in Mgm Resorts International for a number of months, seems to be bullish on the $17.77 billion market cap company. The stock increased 0.60% or $0.19 during the last trading session, reaching $31.92. About 7.52M shares traded. MGM Resorts International (NYSE:MGM) has risen 31.15% since May 16, 2017 and is uptrending. It has outperformed by 19.60% the S&P500.

London Co Of Virginia decreased its stake in Diageo P L C (DEO) by 6.99% based on its latest 2017Q4 regulatory filing with the SEC. London Co Of Virginia sold 135,973 shares as the company’s stock declined 7.16% with the market. The institutional investor held 1.81M shares of the beverages (production and distribution) company at the end of 2017Q4, valued at $264.03 million, down from 1.94M at the end of the previous reported quarter. London Co Of Virginia who had been investing in Diageo P L C for a number of months, seems to be less bullish one the $89.90B market cap company. The stock increased 0.96% or $1.38 during the last trading session, reaching $145.79. About 514,888 shares traded or 18.45% up from the average. Diageo plc (NYSE:DEO) has risen 14.00% since May 16, 2017 and is uptrending. It has outperformed by 2.45% the S&P500.

Among 18 analysts covering MGM Resorts (NYSE:MGM), 14 have Buy rating, 0 Sell and 4 Hold. Therefore 78% are positive. MGM Resorts had 67 analyst reports since August 5, 2015 according to SRatingsIntel. The firm has “Buy” rating by Buckingham Research given on Thursday, August 11. Deutsche Bank maintained it with “Hold” rating and $39.0 target in Tuesday, March 13 report. Morgan Stanley maintained MGM Resorts International (NYSE:MGM) rating on Friday, October 13. Morgan Stanley has “Overweight” rating and $34 target. The firm has “Overweight” rating given on Friday, April 27 by Morgan Stanley. The firm has “Outperform” rating by Telsey Advisory Group given on Tuesday, January 17. On Friday, February 23 the stock rating was maintained by Barclays Capital with “Overweight”. On Thursday, January 25 the stock rating was maintained by Nomura with “Buy”. The stock of MGM Resorts International (NYSE:MGM) has “Buy” rating given on Thursday, July 27 by Deutsche Bank. Jefferies maintained the stock with “Buy” rating in Monday, May 7 report. On Tuesday, November 8 the stock rating was maintained by Stifel Nicolaus with “Buy”.

Investors sentiment decreased to 0.95 in Q4 2017. Its down 0.58, from 1.53 in 2017Q3. It dropped, as 60 investors sold MGM shares while 150 reduced holdings. 71 funds opened positions while 128 raised stakes. 450.52 million shares or 1.77% less from 458.66 million shares in 2017Q3 were reported. Ameriprise Financial Incorporated has invested 0.01% in MGM Resorts International (NYSE:MGM). Sandy Spring State Bank invested in 767 shares or 0% of the stock. New York State Teachers Retirement Systems holds 0.05% of its portfolio in MGM Resorts International (NYSE:MGM) for 584,191 shares. Wright owns 16,674 shares for 0.19% of their portfolio. Quantitative Invest Mngmt Ltd Com has 0.16% invested in MGM Resorts International (NYSE:MGM) for 324,800 shares. Bluemountain Capital Mngmt Ltd Liability Com holds 37,583 shares or 0.03% of its portfolio. Consolidated Investment Ltd Liability Corp holds 165,273 shares or 2.84% of its portfolio. Morgan Stanley reported 0.03% stake. Nuveen Asset Mngmt accumulated 553,540 shares. M&T Bancorp invested in 0.01% or 28,794 shares. Park West Asset Mgmt Ltd Liability Co, a California-based fund reported 978,261 shares. Crystal Rock Mngmt stated it has 97,190 shares. Sei Invests invested in 240,642 shares or 0.03% of the stock. Illinois-based Northern Trust has invested 0.04% in MGM Resorts International (NYSE:MGM). Livforsakringsbolaget Skandia Omsesidigt accumulated 0.02% or 7,007 shares.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: Seekingalpha.com which released: “MGM Resorts falls after US business disappoints” on April 26, 2018, also Prnewswire.com with their article: “Stevie Wonder Announces “The Stevie Wonder Song Party: A Celebration of Life, Love & Music” Concert Series” published on May 15, 2018, Streetinsider.com published: “Las Vegas Sands (LVS) and MGM Resorts (MGM) Making Inroads In Japan – Goldman Sachs” on May 15, 2018. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Bizjournals.com and their article: “Legal sports betting is coming and DC’s top investors are all in” published on May 14, 2018 as well as Seekingalpha.com‘s news article titled: “FANG Stocks Are Not Dead – Cramer’s Mad Money (5/15/18)” with publication date: May 16, 2018.

Covey Capital Advisors Llc, which manages about $395.73M and $75.64 million US Long portfolio, decreased its stake in Live Nation Entertainment In (NYSE:LYV) by 13,078 shares to 61,477 shares, valued at $2.62M in 2017Q4, according to the filing.

Since February 22, 2018, it had 1 insider buy, and 7 selling transactions for $5.19 million activity. 60,000 shares were sold by HORNBUCKLE WILLIAM, worth $2.18 million. On Monday, April 30 the insider HERMAN ALEXIS sold $121,551. $35,500 worth of MGM Resorts International (NYSE:MGM) shares were bought by GROUNDS WILLIAM WARWICK. 6,260 shares were sold by BIBLE WILLIAM A, worth $215,773 on Tuesday, March 6. 12,536 shares were sold by TAYLOR DANIEL J, worth $434,632. 36,366 shares were sold by D’ARRIGO DANIEL, worth $1.26M on Friday, February 23.

Among 26 analysts covering Diageo (NYSE:DEO), 16 have Buy rating, 3 Sell and 7 Hold. Therefore 62% are positive. Diageo had 42 analyst reports since July 31, 2015 according to SRatingsIntel. The stock of Diageo plc (NYSE:DEO) has “Neutral” rating given on Friday, July 31 by Credit Suisse. Berenberg downgraded the shares of DEO in report on Wednesday, September 13 to “Hold” rating. The firm has “Hold” rating by Stifel Nicolaus given on Tuesday, January 12. The firm has “Buy” rating given on Thursday, September 24 by Beaufort Securities. The company was downgraded on Thursday, May 25 by Citigroup. The rating was maintained by Shore Capital on Wednesday, September 23 with “Hold”. The stock of Diageo plc (NYSE:DEO) has “Buy” rating given on Thursday, August 6 by Investec. The firm earned “Buy” rating on Friday, July 31 by Nomura. The rating was upgraded by BNP Paribas to “Outperform” on Friday, September 11. The stock of Diageo plc (NYSE:DEO) earned “Hold” rating by Liberum Capital on Monday, October 3.

Another recent and important Diageo plc (NYSE:DEO) news was published by Investorplace.com which published an article titled: “3 of the Best Penny Stocks To Buy Right Now” on May 16, 2018.

London Co Of Virginia, which manages about $13.80 billion US Long portfolio, upped its stake in Vanguard Index Fds (VXF) by 34,312 shares to 39,227 shares, valued at $4.38M in 2017Q4, according to the filing. It also increased its holding in Apple Inc (NASDAQ:AAPL) by 11,183 shares in the quarter, for a total of 934,046 shares, and has risen its stake in Ishares Tr (IVV).

MGM Resorts International (NYSE:MGM) Institutional Positions Chart

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