MGM Resorts International (NYSE:MGM) Stock Position Trimmed by US Bancorp DE

US Bancorp DE cut its position in MGM Resorts International (NYSE:MGM) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,325 shares of the company’s stock after selling 1,146 shares during the quarter. US Bancorp DE’s holdings in MGM Resorts International were worth $670,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MGM. Janney Montgomery Scott LLC raised its position in shares of MGM Resorts International by 4.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company’s stock worth $2,776,000 after buying an additional 3,285 shares in the last quarter. Atria Investments Inc grew its stake in shares of MGM Resorts International by 3.6% in the 3rd quarter. Atria Investments Inc now owns 37,238 shares of the company’s stock worth $1,456,000 after purchasing an additional 1,300 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of MGM Resorts International by 52.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,754 shares of the company’s stock worth $147,000 after purchasing an additional 1,295 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of MGM Resorts International by 6.6% in the 3rd quarter. Apollon Wealth Management LLC now owns 10,997 shares of the company’s stock worth $430,000 after purchasing an additional 681 shares during the last quarter. Finally, Entropy Technologies LP grew its stake in shares of MGM Resorts International by 156.9% in the 3rd quarter. Entropy Technologies LP now owns 55,311 shares of the company’s stock worth $2,162,000 after purchasing an additional 33,777 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MGM. Susquehanna Bancshares lifted their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Mizuho lifted their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Trading Down 1.8 %

Shares of MGM Resorts International stock opened at $31.31 on Wednesday. The firm has a market capitalization of $8.94 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. 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 company’s fifty day moving average price is $34.35 and its two-hundred day moving average price is $36.44. MGM Resorts International has a 52-week low of $30.69 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted 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 net margin of 4.33% and a return on equity of 21.08%. On average, analysts expect 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 stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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.