MGM Resorts International (NYSE:MGM) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 75.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,210 shares of the company’s stock after selling 89,471 shares during the period. Aigen Investment Management LP’s holdings in MGM Resorts International were worth $1,012,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the last quarter. Goldentree Asset Management LP boosted its stake 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. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International during the third quarter valued at $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after acquiring an additional 123,124 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after acquiring an additional 38,749 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $32.84 on Thursday. 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 has a 1 year low of $31.60 and a 1 year high of $48.24. The firm has a market cap of $9.38 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The stock has a 50-day simple moving average of $34.56 and a 200-day simple moving average of $36.64.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group decreased their price objective on 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. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley increased their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, February 14th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

About MGM Resorts International

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.