Southpoint Capital Advisors LP Boosted Its Stake in Visa (V) by $14.25 Million as Valuation Rose; Mgm Resorts International (MGM) Holder Beach Point Capital Management LP Decreased Its Stake by $47.74 Million as Stock Rose

April 25, 2018 - By Darrin Black

MGM Resorts International (NYSE:MGM) Logo

Rob Butts increased its stake in Visa Inc (V) by 31.25% based on its latest 2017Q4 regulatory filing with the SEC. Southpoint Capital Advisors Lp bought 125,000 shares as the company’s stock rose 4.18% while stock markets declined. The hedge fund run by Rob Butts held 525,000 shares of the business services company at the end of 2017Q4, valued at $59.86 million, up from 400,000 at the end of the previous reported quarter. Southpoint Capital Advisors Lp who had been investing in Visa Inc for a number of months, seems to be bullish on the $270.22 billion market cap company. The stock decreased 1.27% or $1.54 during the last trading session, reaching $119.73. About 3.13 million shares traded. Visa Inc. (NYSE:V) has risen 31.98% since April 25, 2017 and is uptrending. It has outperformed by 20.43% the S&P500.

Carl Goldsmith decreased its stake in Mgm Resorts International (MGM) by 58.98% based on its latest 2017Q4 regulatory filing with the SEC. Beach Point Capital Management Lp sold 1.45M shares as the company’s stock rose 4.56% while stock markets declined. The hedge fund run by Carl Goldsmith held 1.01 million shares of the hotels and resorts company at the end of 2017Q4, valued at $33.59 million, down from 2.45M at the end of the previous reported quarter. Beach Point Capital Management Lp who had been investing in Mgm Resorts International for a number of months, seems to be less bullish one the $19.98B market cap company. The stock decreased 0.73% or $0.26 during the last trading session, reaching $35.26. About 2.19 million shares traded. MGM Resorts International (NYSE:MGM) has risen 31.15% since April 25, 2017 and is uptrending. It has outperformed by 19.60% 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 64 analyst reports since August 5, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stifel Nicolaus on Wednesday, August 5. The stock of MGM Resorts International (NYSE:MGM) has “Strong-Buy” rating given on Monday, August 31 by Vetr. Nomura maintained MGM Resorts International (NYSE:MGM) rating on Wednesday, November 1. Nomura has “Buy” rating and $37.0 target. Telsey Advisory Group maintained the stock with “Outperform” rating in Tuesday, November 8 report. As per Tuesday, January 17, the company rating was maintained by Telsey Advisory Group. The stock has “Hold” rating by Zacks on Wednesday, August 5. The company was maintained on Friday, April 28 by Stifel Nicolaus. As per Monday, April 23, the company rating was upgraded by Susquehanna. The rating was maintained by Stifel Nicolaus on Tuesday, November 8 with “Buy”. The firm has “Buy” rating given on Monday, November 2 by UBS.

Investors sentiment decreased to 0.95 in 2017 Q4. Its down 0.58, from 1.53 in 2017Q3. It fall, 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. Nwi Mngmt Lp invested 5.78% in MGM Resorts International (NYSE:MGM). Goldman Sachs Gru Inc reported 0.05% of its portfolio in MGM Resorts International (NYSE:MGM). Calamos Wealth Limited Liability Company owns 159,719 shares. Canyon Cap Advsr Lc holds 9.38% in MGM Resorts International (NYSE:MGM) or 19.37 million shares. Millennium Mngmt Limited Liability Corporation reported 2.46M shares. 73,396 are owned by Stephens Invest Mngmt Grp Incorporated Limited Liability. Bronson Point Mngmt Limited Co stated it has 100,000 shares. Germany-based Dekabank Deutsche Girozentrale has invested 0.01% in MGM Resorts International (NYSE:MGM). Bluemountain Capital Mgmt Limited Liability Corp reported 37,583 shares stake. Envestnet Asset accumulated 991 shares. The New York-based Glg Limited Liability has invested 0.29% in MGM Resorts International (NYSE:MGM). Parkside State Bank & holds 0% or 187 shares in its portfolio. Cleararc invested in 12,968 shares. 50.53 million are held by Vanguard Gru. The Arizona-based Tci Wealth has invested 0% in MGM Resorts International (NYSE:MGM).

Beach Point Capital Management Lp, which manages about $8.09B and $417.76 million US Long portfolio, upped its stake in Xpo Logistics Inc (NYSE:XPO) by 14,000 shares to 71,500 shares, valued at $6.55 million in 2017Q4, according to the filing.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on April, 26 before the open. They expect $0.30 earnings per share, down 21.05% or $0.08 from last year’s $0.38 per share. MGM’s profit will be $169.99M for 29.38 P/E if the $0.30 EPS becomes a reality.

Since February 22, 2018, it had 1 buying transaction, and 6 insider sales for $5.07 million activity. Shares for $1.26M were sold by D’ARRIGO DANIEL on Friday, February 23. $215,773 worth of MGM Resorts International (NYSE:MGM) was sold by BIBLE WILLIAM A. The insider HORNBUCKLE WILLIAM sold $2.18M. Another trade for 12,536 shares valued at $434,632 was sold by TAYLOR DANIEL J. The insider SANDERS COREY IAN sold $848,588. 4,350 shares were sold by HERMAN ALEXIS, worth $159,351 on Monday, March 12.

Among 42 analysts covering Visa Inc. (NYSE:V), 34 have Buy rating, 0 Sell and 8 Hold. Therefore 81% are positive. Visa Inc. had 127 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, February 2 by Guggenheim. Oppenheimer maintained the stock with “Buy” rating in Wednesday, October 25 report. The rating was maintained by PiperJaffray on Friday, February 2 with “Overweight”. The stock has “Hold” rating by S&P Research on Tuesday, July 28. On Thursday, February 1 the stock rating was maintained by Piper Jaffray with “Buy”. The firm has “Buy” rating by Keefe Bruyette & Woods given on Friday, August 11. The stock of Visa Inc. (NYSE:V) has “Buy” rating given on Friday, October 13 by Piper Jaffray. The stock of Visa Inc. (NYSE:V) has “Buy” rating given on Thursday, July 20 by Piper Jaffray. The stock of Visa Inc. (NYSE:V) has “Buy” rating given on Friday, June 23 by Oppenheimer. The rating was maintained by Guggenheim on Monday, April 9 with “Buy”.

Investors sentiment increased to 1.05 in Q4 2017. Its up 0.05, from 1 in 2017Q3. It is positive, as 55 investors sold V shares while 605 reduced holdings. 141 funds opened positions while 552 raised stakes. 1.61 billion shares or 1.83% less from 1.64 billion shares in 2017Q3 were reported. Richard C Young & reported 1.84% of its portfolio in Visa Inc. (NYSE:V). Cwm Limited Liability Company stated it has 0.01% in Visa Inc. (NYSE:V). Condor Cap Mngmt holds 0.68% in Visa Inc. (NYSE:V) or 29,216 shares. Invest Ptnrs Limited Oh Adv reported 1.24% in Visa Inc. (NYSE:V). Huntington Bankshares invested 0.7% of its portfolio in Visa Inc. (NYSE:V). Brown Brothers Harriman has invested 0.02% of its portfolio in Visa Inc. (NYSE:V). The California-based Guardian Inv Mgmt has invested 1.75% in Visa Inc. (NYSE:V). Sun Life Incorporated holds 14,746 shares. Da Davidson And holds 0.86% or 359,440 shares. Paragon Mgmt Ltd accumulated 2,444 shares. Badgley Phelps Bell owns 186,114 shares for 1.46% of their portfolio. Texas Permanent School Fund has 0.71% invested in Visa Inc. (NYSE:V) for 495,058 shares. Moreover, Madison Inc has 0.96% invested in Visa Inc. (NYSE:V) for 495,767 shares. Bradley Foster And Sargent Inc Ct has invested 0.12% in Visa Inc. (NYSE:V). Oppenheimer Asset holds 270,804 shares or 0.76% of its portfolio.

Southpoint Capital Advisors Lp, which manages about $2.99 billion and $2.10B US Long portfolio, decreased its stake in Cars Com Inc by 3.50M shares to 1.50M shares, valued at $43.26 million in 2017Q4, according to the filing. It also reduced its holding in Willis Towers Watson Pub Ltd by 100,000 shares in the quarter, leaving it with 500,000 shares, and cut its stake in Altaba Inc.

Since December 13, 2017, it had 0 insider purchases, and 3 selling transactions for $6.56 million activity. MAHON TULLIER KELLY sold $5.65M worth of stock or 49,702 shares. The insider MATSCHULLAT ROBERT W sold 6,220 shares worth $707,561.

Visa Inc. (NYSE:V) Institutional Positions Chart

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