MGM Resorts International (NYSE:MGM) Shares Sold by LSV Asset Management

LSV Asset Management lowered its position in MGM Resorts International (NYSE:MGM) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,831,000 shares of the company’s stock after selling 6,200 shares during the quarter. LSV Asset Management’s holdings in MGM Resorts International were worth $98,094,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MGM. Norges Bank purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $88,033,000. Invesco Ltd. grew its stake in MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after purchasing an additional 1,063,707 shares in the last quarter. Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $20,053,000. Finally, Amundi boosted its stake in shares of MGM Resorts International by 207.5% during the 4th quarter. Amundi now owns 836,144 shares of the company’s stock valued at $27,334,000 after buying an additional 564,202 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of 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. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group reduced their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Down 4.0 %

Shares of MGM Resorts International stock opened at $28.74 on Friday. 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 1-year low of $25.30 and a 1-year high of $47.26. The business’s fifty day moving average price is $32.75 and its two-hundred day moving average price is $35.30. The company has a market capitalization of $8.13 billion, a P/E ratio of 11.97, a PEG ratio of 0.98 and a beta of 1.96.

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

MGM Resorts International Company 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.