MGM Resorts International (NYSE:MGM) Stock Position Lowered by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 30.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 465,158 shares of the company’s stock after selling 206,687 shares during the quarter. Brandywine Global Investment Management LLC owned 0.16% of MGM Resorts International worth $16,118,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after purchasing an additional 309 shares during the last quarter. Ballentine Partners LLC grew its position in MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after buying an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Finally, Assetmark Inc. boosted its stake 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 acquiring an additional 411 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, 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. 2.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MGM has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Capital One Financial raised their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Mizuho lifted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Trading Down 4.0 %

Shares of MGM stock opened at $30.35 on Monday. MGM Resorts International has a 12 month low of $29.80 and a 12 month high of $48.25. The company has a market cap of $8.67 billion, a PE ratio of 12.64, a price-to-earnings-growth 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. The business’s 50 day moving average is $33.90 and its two-hundred day moving average is $35.94.

MGM Resorts International (NYSE:MGM) last announced its 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 net margin of 4.33% and a return on equity of 21.08%. Equities analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

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.