Elo Mutual Pension Insurance Co Sells 4,911 Shares of MGM Resorts International (NYSE:MGM)

Elo Mutual Pension Insurance Co lowered its position in MGM Resorts International (NYSE:MGM) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,986 shares of the company’s stock after selling 4,911 shares during the period. Elo Mutual Pension Insurance Co’s holdings in MGM Resorts International were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MGM. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after purchasing an additional 309 shares during the period. Ballentine Partners LLC raised its holdings in MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after buying an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of MGM Resorts International by 1.7% in 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 buying an additional 333 shares in the last quarter. Global Retirement Partners LLC grew its holdings 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 last quarter. Finally, Assetmark Inc. increased its position in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MGM. Citigroup lifted their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Susquehanna Bancshares raised their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Stock Down 4.0 %

Shares of NYSE MGM opened at $30.35 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a market capitalization of $8.67 billion, a PE ratio of 12.64, a P/E/G ratio of 0.98 and a beta of 2.18. MGM Resorts International has a one year low of $29.99 and a one year high of $48.25. The business’s fifty day moving average price is $33.90 and its 200-day moving average price is $35.94.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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 net margin of 4.33% and a return on equity of 21.08%. On average, equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling

In other news, CAO Todd Meinert sold 6,000 shares of the firm’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 transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost 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 trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is owned by insiders.

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.