MGM Resorts International (NYSE:MGM) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 69.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 144,233 shares of the company’s stock after selling 334,061 shares during the period. River Road Asset Management LLC’s holdings in MGM Resorts International were worth $4,998,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. HG Vora Capital Management LLC purchased a new stake in MGM Resorts International during the third quarter valued at about $97,725,000. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. Davis Selected Advisers increased its position 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in MGM Resorts International during the 4th quarter worth approximately $20,053,000. Finally, Amundi lifted its position in MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company’s stock valued at $27,334,000 after buying an additional 564,202 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased 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 trade 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 corporate insiders.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $31.31 on Wednesday. The firm has a market cap of $8.94 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1 year low of $30.69 and a 1 year high of $48.24. The firm’s 50-day simple moving average is $34.35 and its 200-day simple moving average is $36.44. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.

MGM Resorts International (NYSE:MGM) last posted 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%. Equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MGM shares. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Capital One Financial raised their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

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.