Aster Capital Management DIFC Ltd Sells 17,573 Shares of MGM Resorts International (NYSE:MGM)

Aster Capital Management DIFC Ltd lessened its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 95.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 750 shares of the company's stock after selling 17,573 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in MGM Resorts International were worth $26,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Davis Selected Advisers boosted its position in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after buying an additional 882,417 shares during the period. Norges Bank acquired a new stake in MGM Resorts International in the fourth quarter valued at approximately $88,033,000. Charles Schwab Investment Management Inc. grew its holdings in MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock worth $79,110,000 after acquiring an additional 38,749 shares in the last quarter. Wells Fargo & Company MN grew its holdings in MGM Resorts International by 11.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,910,828 shares of the company's stock worth $66,210,000 after acquiring an additional 198,449 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of MGM Resorts International by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company's stock valued at $45,876,000 after purchasing an additional 42,256 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

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Insider Activity

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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 transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MGM shares. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Citigroup boosted their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Finally, Truist Financial decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, January 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 an average rating of "Moderate Buy" and an average price target of $51.29.

MGM Resorts International Price Performance

MGM Resorts International stock traded up $0.35 during mid-day trading on Tuesday, hitting $29.97. The company's stock had a trading volume of 3,393,535 shares, compared to its average volume of 4,581,215. The stock has a market capitalization of $8.48 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.98 and a beta of 1.96. 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 stock's fifty day moving average price is $32.55 and its two-hundred day moving average price is $35.16. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Research analysts forecast that MGM Resorts International will post 2.21 earnings per share 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.