MGM Resorts International (NYSE:MGM) Shares Sold by Empower Advisory Group LLC

Empower Advisory Group LLC decreased its stake in MGM Resorts International (NYSE:MGM - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,363,213 shares of the company's stock after selling 208,279 shares during the quarter. Empower Advisory Group LLC owned approximately 0.46% of MGM Resorts International worth $47,235,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MGM. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock valued at $2,080,000 after buying an additional 309 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock valued at $227,000 after acquiring an additional 333 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of MGM Resorts International by 1.6% in the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company's stock valued at $1,113,000 after acquiring an additional 459 shares in the last quarter. Blueshift Asset Management LLC boosted its stake in shares of MGM Resorts International by 1.9% in the third quarter. Blueshift Asset Management LLC now owns 25,436 shares of the company's stock worth $994,000 after acquiring an additional 482 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its position in shares of MGM Resorts International by 3.8% during the third quarter. Hilltop Holdings Inc. now owns 13,198 shares of the company's stock worth $516,000 after purchasing an additional 489 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the business'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 trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MGM. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Friday, February 14th. Capital One Financial raised their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Mizuho boosted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Susquehanna Bancshares boosted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.47.

MGM Resorts International Trading Down 6.0 %

NYSE:MGM traded down $2.28 on Friday, reaching $36.02. The company's stock had a trading volume of 5,167,674 shares, compared to its average volume of 5,180,714. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The stock has a 50 day moving average price of $34.53 and a 200 day moving average price of $36.80. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 analysts anticipate 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.