Dynamic Technology Lab Private Ltd Decreases Stock Holdings in MGM Resorts International (NYSE:MGM)

Dynamic Technology Lab Private Ltd cut its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 74.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,544 shares of the company's stock after selling 96,940 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in MGM Resorts International were worth $1,162,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC increased its holdings in MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after buying an additional 79,486 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of MGM Resorts International during the third quarter valued at approximately $259,000. Investment Management Corp of Ontario lifted its position in MGM Resorts International by 47.4% during the third quarter. Investment Management Corp of Ontario now owns 7,777 shares of the company's stock valued at $304,000 after purchasing an additional 2,500 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in MGM Resorts International by 3.7% in the third quarter. Integrated Wealth Concepts LLC now owns 34,797 shares of the company's stock worth $1,360,000 after purchasing an additional 1,236 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in MGM Resorts International by 124.5% in the 3rd quarter. IHT Wealth Management LLC now owns 17,244 shares of the company's stock worth $671,000 after purchasing an additional 9,563 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Citigroup boosted their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. Six investment 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, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $51.29.

MGM Resorts International Trading Up 0.4 %

Shares of NYSE MGM traded up $0.11 during trading hours on Friday, hitting $28.86. 1,071,399 shares of the company traded hands, compared to its average volume of 4,560,528. The company's 50 day moving average price is $32.75 and its 200 day moving average price is $35.30. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.33% and a return on equity of 21.08%. On average, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were acquired 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 approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.83% of the company's stock.

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.