Corient Private Wealth LLC Sells 53,306 Shares of MGM Resorts International (NYSE:MGM)

Corient Private Wealth LLC cut its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,453 shares of the company's stock after selling 53,306 shares during the period. Corient Private Wealth LLC's holdings in MGM Resorts International were worth $4,208,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Assetmark Inc. boosted its holdings in 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 acquiring 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 $28,000. Brooklyn Investment Group bought a new stake in MGM Resorts International in the 3rd quarter worth $44,000. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the last quarter. Finally, Modus Advisors LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at about $46,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGM has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Barclays reissued an "equal weight" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Mizuho boosted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC restated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.29.

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Insider Activity at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 $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 currently owned by insiders.

MGM Resorts International Stock Down 1.2 %

Shares of MGM traded down $0.39 during trading hours on Tuesday, hitting $32.03. The company had a trading volume of 4,664,395 shares, compared to its average volume of 4,247,651. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18. The firm has a fifty day moving average price of $34.00 and a 200-day moving average price of $36.02. MGM Resorts International has a 52-week low of $29.99 and a 52-week high of $48.25. 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 - Get Free Report) last issued its earnings results 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 net margin of 4.33% and a return on equity of 21.08%. On average, equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International Company 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.