82,800 Shares in MGM Resorts International (NYSE:MGM) Bought by Orvieto Partners L.P.

Orvieto Partners L.P. bought a new position in MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 82,800 shares of the company's stock, valued at approximately $2,869,000. MGM Resorts International comprises about 2.4% of Orvieto Partners L.P.'s investment portfolio, making the stock its 19th largest position.

Other large investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. grew its position in MGM Resorts International by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock valued at $111,000 after buying an additional 261 shares during the period. Ballentine Partners LLC raised its holdings in MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in MGM Resorts International by 1.7% during 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 purchasing an additional 333 shares during the period. Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares during the period. Finally, Assetmark Inc. lifted 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 valued at $28,000 after buying an additional 411 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MGM. Truist Financial lowered their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research note on Friday, February 14th. Citigroup boosted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Jefferies Financial Group decreased their target price 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. Finally, Macquarie reaffirmed an "outperform" rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.06.

Insider Activity

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company'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 sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

MGM Resorts International Stock Up 0.9 %

Shares of MGM traded up $0.27 during mid-day trading on Friday, hitting $31.69. 4,627,649 shares of the company's stock were exchanged, compared to its average volume of 4,673,290. 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 company has a market cap of $8.97 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.98 and a beta of 1.96. The stock's 50-day moving average is $31.33 and its 200-day moving average is $34.57. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International 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.