MGM Resorts International (NYSE:MGM) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in MGM Resorts International (NYSE:MGM) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,599 shares of the company’s stock after selling 4,764 shares during the quarter. Corebridge Financial Inc.’s holdings in MGM Resorts International were worth $1,857,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares in the last quarter. Ballentine Partners LLC boosted its position in MGM Resorts International by 5.4% during the fourth 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 last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after acquiring an additional 333 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling 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 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 completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was 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 insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MGM shares. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Capital One Financial increased their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Macquarie restated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Trading Up 2.9 %

Shares of NYSE MGM opened at $30.80 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock’s 50 day moving average price is $33.73 and its two-hundred day moving average price is $35.82. MGM Resorts International has a 52-week low of $28.63 and a 52-week high of $47.45. The stock has a market capitalization of $8.79 billion, a P/E ratio of 12.83, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.