MGM Resorts International (NYSE:MGM) Shares Sold by Boston Partners

Boston Partners lowered its position in shares of MGM Resorts International (NYSE:MGM) by 38.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,653,426 shares of the company’s stock after selling 2,271,140 shares during the quarter. Boston Partners owned approximately 1.23% of MGM Resorts International worth $126,255,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MGM. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International during the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP raised its holdings in shares of MGM Resorts International by 86.4% during the third 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. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $20,053,000. Finally, Amundi raised its holdings in shares of MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company’s stock valued at $27,334,000 after acquiring an additional 564,202 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased 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 owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 1.8 %

MGM opened at $31.84 on Wednesday. MGM Resorts International has a 52 week low of $29.99 and a 52 week high of $48.25. The business has a fifty day simple moving average of $34.03 and a 200-day simple moving average of $36.16. The firm has a market cap of $9.09 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. On average, equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MGM shares. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners cut MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Citigroup increased their price target 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 analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, 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.