MGM Resorts International (NYSE:MGM) Position Trimmed by HighTower Advisors LLC

HighTower Advisors LLC lowered its stake in MGM Resorts International (NYSE:MGM - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,839 shares of the company's stock after selling 9,358 shares during the quarter. HighTower Advisors LLC's holdings in MGM Resorts International were worth $3,945,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MGM. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International in the third quarter valued at $97,725,000. Goldentree Asset Management LP boosted its stake in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Davis Selected Advisers boosted its stake in shares of MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MGM Resorts International in the fourth quarter valued at approximately $20,053,000. Finally, Amundi lifted its stake in shares of MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company's stock valued at $27,334,000 after buying an additional 564,202 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on MGM. Wells Fargo & Company lifted their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Jefferies Financial Group lowered their price target on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Capital One Financial boosted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

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MGM Resorts International Stock Up 3.3 %

Shares of NYSE MGM traded up $1.03 during trading on Monday, reaching $32.45. 5,301,391 shares of the stock were exchanged, compared to its average volume of 4,240,215. The company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The business's 50-day moving average price is $34.02 and its 200 day moving average price is $36.07. 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 has a twelve month low of $29.99 and a twelve month high of $48.25.

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%. As a group, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International 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 completion of the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction 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 purchase, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is owned by insiders.

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.