Dynamic Technology Lab Private Ltd Has $1.16 Million Stock Position in MGM Resorts International (NYSE:MGM)

Dynamic Technology Lab Private Ltd cut its holdings in MGM Resorts International (NYSE:MGM) by 74.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,544 shares of the company’s stock after selling 96,940 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in MGM Resorts International were worth $1,162,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of MGM. Assetmark Inc. grew its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International during the fourth quarter worth approximately $28,000. Global Retirement Partners LLC increased its stake in 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 acquiring an additional 404 shares during the period. Modus Advisors LLC acquired a new position in MGM Resorts International in the 4th quarter valued at $46,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of MGM Resorts International in the third quarter worth $55,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MGM. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company upped their target price on 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 price target on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Wedbush reissued an “outperform” rating on shares of MGM Resorts International 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $26.86 on Friday. The firm has a market cap of $7.60 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 52 week low of $25.61 and a 52 week high of $47.26. The firm’s fifty day moving average is $33.50 and its 200-day moving average is $35.69. 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 released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

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.