Andra AP fonden Sells 83,900 Shares of MGM Resorts International (NYSE:MGM)

Andra AP fonden reduced its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 47.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,300 shares of the company's stock after selling 83,900 shares during the quarter. Andra AP fonden's holdings in MGM Resorts International were worth $3,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $28,000. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares during the period. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the 4th quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $44,000. Finally, Planning Capital Management Corp bought a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $45,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MGM. Mizuho lifted their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Citigroup increased their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.29.

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Insider Transactions at MGM Resorts International

In other news, 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 value 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. This represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company's stock.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded down $0.25 during midday trading on Monday, hitting $31.78. 6,410,222 shares of the stock traded hands, compared to its average volume of 5,195,220. The firm has a market capitalization of $9.07 billion, a P/E ratio of 13.23, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. 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 firm has a 50-day moving average of $34.40 and a two-hundred day moving average of $36.48.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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 forecast that MGM Resorts International will post 2.21 EPS 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.