Victory Capital Management Inc. Sells 34,966 Shares of MGM Resorts International (NYSE:MGM)

Victory Capital Management Inc. lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 30.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,419 shares of the company’s stock after selling 34,966 shares during the quarter. Victory Capital Management Inc.’s holdings in MGM Resorts International were worth $2,752,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MGM. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $97,725,000. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $17,622,000. ArrowMark Colorado Holdings LLC boosted its position in shares of MGM Resorts International by 207.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after acquiring an additional 442,975 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of MGM Resorts International by 3,041.1% during the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after acquiring an additional 375,693 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was 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. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $31.78 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 business’s 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $36.24. The stock has a market capitalization of $9.07 billion, a P/E ratio of 13.24, a price-to-earnings-growth 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 $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Citigroup raised their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.