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

Prudential Financial Inc. lowered its position in MGM Resorts International (NYSE:MGM) by 11.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 548,129 shares of the company’s stock after selling 68,278 shares during the quarter. Prudential Financial Inc.’s holdings in MGM Resorts International were worth $18,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares during the period. Ballentine Partners LLC increased its holdings in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Finally, Assetmark Inc. grew its position in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired 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 in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MGM shares. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Macquarie reiterated an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Capital One Financial upped their price target 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, Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Stock Performance

MGM stock opened at $32.12 on Thursday. The firm has a 50 day simple moving average of $33.98 and a 200 day simple moving average of $36.00. MGM Resorts International has a 52 week low of $29.99 and a 52 week high of $48.25. The stock has a market cap of $9.17 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.98 and a beta of 2.18. 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 issued its 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 net margin of 4.33% and a return on equity of 21.08%. Research analysts anticipate 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.