Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 24,600 Shares of MGM Resorts International (NYSE:MGM)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in MGM Resorts International (NYSE:MGM) by 41.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,156 shares of the company’s stock after selling 24,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in MGM Resorts International were worth $1,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empower Advisory Group LLC lifted its position in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the period. Goldentree Asset Management LP lifted its position in 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 buying an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International during the fourth quarter valued at $2,010,000. Assenagon Asset Management S.A. lifted its position in MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares during the period. Finally, Zacks Investment Management lifted its position in MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after buying an additional 29,107 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MGM. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Truist Financial lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Susquehanna Bancshares lifted their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Price Performance

NYSE MGM opened at $35.13 on Thursday. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The stock has a 50-day moving average of $34.59 and a 200 day moving average of $36.78. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.98 and a beta of 2.20. 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 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, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.

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.