Mariner LLC Sells 3,732 Shares of MGM Resorts International (NYSE:MGM)

Mariner LLC lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,856 shares of the company’s stock after selling 3,732 shares during the period. Mariner LLC’s holdings in MGM Resorts International were worth $1,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Virtu Financial LLC bought a new position in shares of MGM Resorts International during the 3rd quarter valued at about $641,000. Wilmington Savings Fund Society FSB bought a new position in shares of MGM Resorts International in the 3rd quarter valued at about $55,000. Tidal Investments LLC grew its position in MGM Resorts International by 269.7% in the third quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after acquiring an additional 24,111 shares in the last quarter. Synovus Financial Corp bought a new stake in MGM Resorts International during the third quarter worth approximately $309,000. Finally, Oddo BHF Asset Management Sas bought a new position in shares of MGM Resorts International during the 3rd quarter valued at approximately $1,886,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $31.41 on Friday. The company has a 50 day moving average of $31.46 and a two-hundred day moving average of $34.66. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. 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 has a twelve month low of $25.30 and a twelve month high of $47.26.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping 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%. As a group, analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan S. Halkyard acquired 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 acquisition, 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. 3.06% of the stock is owned by company insiders.

Analyst Ratings Changes

MGM has been the subject of several analyst reports. JMP Securities lowered their target price on shares of MGM Resorts International from $50.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Truist Financial decreased their price objective on shares of MGM Resorts International from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup raised their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Mizuho boosted their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.06.

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.