Brandywine Global Investment Management LLC Sells 206,687 Shares of MGM Resorts International (NYSE:MGM)

Brandywine Global Investment Management LLC lessened its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 465,158 shares of the company's stock after selling 206,687 shares during the period. Brandywine Global Investment Management LLC owned 0.16% of MGM Resorts International worth $16,118,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MGM. Norges Bank acquired a new stake in shares of MGM Resorts International in the fourth quarter worth about $88,033,000. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International in the 3rd quarter worth approximately $97,725,000. Davis Selected Advisers lifted its holdings in MGM Resorts International by 4.6% in 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. bought a new stake in MGM Resorts International during the fourth quarter worth approximately $20,053,000. Finally, Amundi grew its holdings in 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 purchasing an additional 564,202 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the firm's 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 sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Company insiders own 2.13% of the company's stock.

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MGM Resorts International Price Performance

MGM stock traded up $0.29 during trading on Tuesday, hitting $29.93. The company had a trading volume of 6,420,152 shares, compared to its average volume of 4,372,971. The company has a fifty day moving average price of $33.77 and a two-hundred day moving average price of $35.85. MGM Resorts International has a fifty-two week low of $28.63 and a fifty-two week high of $47.45. The company has a market cap of $8.55 billion, a P/E ratio of 12.47, a P/E/G ratio of 0.98 and a beta of 2.18. 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 issued its earnings results on Wednesday, February 12th. The company reported $0.45 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%. Equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MGM shares. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company upped their price target 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. Macquarie reaffirmed an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley boosted their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, February 24th. Finally, Needham & Company LLC restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.