Securian Asset Management Inc. Lowers Position in MGM Resorts International (NYSE:MGM)

Securian Asset Management Inc. decreased its stake in MGM Resorts International (NYSE:MGM) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,094 shares of the company’s stock after selling 673 shares during the quarter. Securian Asset Management Inc.’s holdings in MGM Resorts International were worth $419,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International during the 3rd quarter valued at approximately $28,000. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth approximately $28,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $44,000. Finally, Global Retirement Partners LLC lifted its stake in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 2.1 %

MGM stock opened at $32.43 on Tuesday. The firm’s fifty day simple moving average is $34.06 and its two-hundred day simple moving average is $36.21. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGM shares. Morgan Stanley increased their price target on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Truist Financial decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Buying and Selling

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

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.