ExodusPoint Capital Management LP Cuts Stock Holdings in MGM Resorts International (NYSE:MGM)

ExodusPoint Capital Management LP lessened its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 83.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,303 shares of the company's stock after selling 132,546 shares during the period. ExodusPoint Capital Management LP's holdings in MGM Resorts International were worth $911,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MGM. Charles Schwab Investment Management Inc. increased its position in shares of MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the last quarter. Korea Investment CORP grew its position in MGM Resorts International by 964.3% in the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock valued at $5,034,000 after acquiring an additional 131,636 shares during the last quarter. ACR Alpine Capital Research LLC lifted its holdings in MGM Resorts International by 23.3% during the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock valued at $5,613,000 after buying an additional 30,605 shares in the last quarter. Davis Selected Advisers increased its position in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after acquiring an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $2,010,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

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Insider Activity

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm'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 transaction, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now 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. Company insiders own 2.13% of the company's stock.

MGM Resorts International Trading Up 1.2 %

NYSE MGM traded up $0.35 on Tuesday, reaching $29.97. The stock had a trading volume of 3,393,535 shares, compared to its average volume of 4,581,109. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock has a fifty day moving average price of $32.55 and a two-hundred day moving average price of $35.16. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the topic of several research reports. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Macquarie reiterated an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Truist Financial lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Finally, Morgan Stanley boosted their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.29.

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.