MGM Resorts International (NYSE:MGM) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lowered its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 23.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,565 shares of the company's stock after selling 24,703 shares during the period. Levin Capital Strategies L.P.'s holdings in MGM Resorts International were worth $2,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MGM. Empower Advisory Group LLC grew its stake in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after buying an additional 62,997 shares in the last quarter. Goldentree Asset Management LP increased its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International during the fourth quarter valued at about $2,010,000. Assenagon Asset Management S.A. lifted its stake in MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company's stock worth $12,411,000 after purchasing an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company's stock worth $15,651,000 after purchasing an additional 29,107 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.13% of the company's stock.

MGM Resorts International Price Performance

Shares of MGM traded down $0.71 during trading hours on Monday, reaching $34.05. 1,867,005 shares of the stock traded hands, compared to its average volume of 4,992,417. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $9.72 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company's 50-day moving average price is $34.62 and its two-hundred day moving average price is $36.73.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MGM shares. Stifel Nicolaus boosted their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Jefferies Financial Group dropped their price target on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Finally, JMP Securities reiterated a "market outperform" rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.29.

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.