Smartleaf Asset Management LLC Sells 2,443 Shares of MGM Resorts International (NYSE:MGM)

Smartleaf Asset Management LLC reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 56.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,895 shares of the company’s stock after selling 2,443 shares during the period. Smartleaf Asset Management LLC’s holdings in MGM Resorts International were worth $65,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MGM. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC raised its position in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the period. Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $44,000. Finally, Planning Capital Management Corp acquired a new stake in shares of MGM Resorts International in the third quarter worth $45,000. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Trading Up 1.3 %

Shares of MGM stock opened at $32.05 on Monday. The firm has a fifty day moving average of $34.40 and a 200-day moving average of $36.48. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 52-week low of $30.69 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.

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

Insider Activity

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

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.