Legal & General Group Plc Decreases Stock Holdings in MGM Resorts International (NYSE:MGM)

Legal & General Group Plc lowered its position in shares of MGM Resorts International (NYSE:MGM) by 47.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 880,901 shares of the company’s stock after selling 780,936 shares during the quarter. Legal & General Group Plc’s holdings in MGM Resorts International were worth $30,523,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ballentine Partners LLC grew its stake in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after buying an additional 333 shares during the period. Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 47.8% during the fourth 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 during the period. Assetmark Inc. raised its holdings in shares of 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 acquiring an additional 411 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in MGM Resorts International by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company’s stock worth $5,073,000 after acquiring an additional 469 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Finally, Macquarie restated an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.83% of the stock is currently owned by insiders.

MGM Resorts International Trading Up 2.2 %

NYSE:MGM opened at $29.39 on Friday. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.98 and a beta of 1.96. The company’s 50 day moving average price is $32.64 and its 200-day moving average price is $35.25. 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 (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.