MGM Resorts International (NYSE:MGM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its position in shares of MGM Resorts International (NYSE:MGM) by 30.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 121,453 shares of the company’s stock after selling 53,306 shares during the quarter. Corient Private Wealth LLC’s holdings in MGM Resorts International were worth $4,208,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. boosted its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Global Retirement Partners LLC lifted its holdings 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 worth $43,000 after acquiring an additional 404 shares during the period. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International during the 3rd quarter worth about $44,000. Finally, Modus Advisors LLC purchased a new position in shares of MGM Resorts International during the 4th quarter worth about $46,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

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

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $31.42 on Friday. The company has a market cap of $8.97 billion, a PE ratio of 13.09, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a fifty day moving average price of $34.02 and a two-hundred day moving average price of $36.07. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 12 month low of $29.99 and a 12 month high of $48.25.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS 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%. Research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MGM. Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Mizuho increased their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $51.29.

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.