Sumitomo Mitsui Trust Group Inc. Sells 19,910 Shares of MGM Resorts International (NYSE:MGM)

Sumitomo Mitsui Trust Group Inc. reduced its stake in MGM Resorts International (NYSE:MGM) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 435,762 shares of the company’s stock after selling 19,910 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.15% of MGM Resorts International worth $15,099,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MGM. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the 3rd quarter worth $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth $28,000. Eastern Bank bought a new position in shares of MGM Resorts International in the 3rd quarter worth $35,000. Brooklyn Investment Group bought a new position in MGM Resorts International during the third quarter worth about $44,000. Finally, Planning Capital Management Corp bought a new position in MGM Resorts International during the third quarter worth about $45,000. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGM. Mizuho reduced their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Barclays reduced their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Truist Financial reduced their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Susquehanna Bancshares lifted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Finally, Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $52.44.

MGM Resorts International Price Performance

NYSE:MGM opened at $34.34 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock’s 50-day simple moving average is $34.25 and its 200 day simple moving average is $36.81. The company has a market cap of $10.22 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last released 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 return on equity of 25.84% and a net margin of 5.23%. As a group, sell-side analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.13% of the stock is owned by company insiders.

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.