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

LSV Asset Management lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,831,000 shares of the company’s stock after selling 6,200 shares during the period. LSV Asset Management owned about 0.95% of MGM Resorts International worth $98,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MGM. Ballentine Partners LLC grew its holdings in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after acquiring an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in 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 worth $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC grew 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 valued at $43,000 after purchasing an additional 404 shares during the last quarter. Assetmark Inc. increased its position in shares of MGM Resorts International by 104.1% in the fourth 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. Finally, Commonwealth Equity Services LLC raised its stake in shares of MGM Resorts International by 0.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company’s stock worth $5,073,000 after buying an additional 469 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MGM has been the subject of several recent research reports. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Citigroup raised their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, February 14th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Price Performance

MGM stock opened at $28.74 on Friday. The company has a market cap of $8.13 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a 50-day moving average price of $32.75 and a two-hundred day moving average price of $35.30. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26.

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, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares of the company’s stock, 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 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.