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

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Assets Investment Management LLC raised its stake in MGM Resorts International by 26.5% in the fourth quarter. American Assets Investment Management LLC now owns 31,565 shares of the company’s stock valued at $1,094,000 after buying an additional 6,619 shares in the last quarter. Cibc World Markets Corp raised its stake in MGM Resorts International by 13.2% in the fourth quarter. Cibc World Markets Corp now owns 35,770 shares of the company’s stock valued at $1,239,000 after buying an additional 4,184 shares in the last quarter. American Assets Capital Advisers LLC increased its position in shares of MGM Resorts International by 10.8% during the fourth quarter. American Assets Capital Advisers LLC now owns 520,334 shares of the company’s stock worth $18,030,000 after purchasing an additional 50,782 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of MGM Resorts International by 0.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company’s stock worth $5,073,000 after purchasing an additional 469 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of MGM Resorts International by 11.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 10,114 shares of the company’s stock worth $350,000 after purchasing an additional 1,071 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Trading Down 1.8 %

Shares of MGM opened at $31.84 on Wednesday. The company has a market capitalization of $9.09 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock has a fifty day moving average of $34.03 and a two-hundred day moving average of $36.16. MGM Resorts International has a fifty-two week low of $29.99 and a fifty-two week high of $48.25.

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 return on equity of 21.08% and a net margin of 4.33%. As a group, analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 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, 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 approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of the company’s 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 sale, the chief accounting officer now directly 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. Insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MGM. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial lifted their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Leerink Partners lowered MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target 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.