MGM Resorts International (NYSE:MGM) Shares Sold by Xponance Inc.

Xponance Inc. lessened its stake in MGM Resorts International (NYSE:MGM) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,004 shares of the company’s stock after selling 1,348 shares during the period. Xponance Inc.’s holdings in MGM Resorts International were worth $1,074,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MGM. Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Goldentree Asset Management LP increased its holdings in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at approximately $97,725,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MGM shares. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Citigroup upped their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Capital One Financial raised their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Six 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Trading Down 3.4 %

Shares of NYSE:MGM opened at $31.42 on Monday. The company has a 50 day moving average of $34.02 and a 200-day moving average of $36.07. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a market cap of $8.97 billion, a P/E ratio of 13.09, a P/E/G ratio of 0.98 and a beta of 2.18. 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 issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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.