Primecap Management Co. CA Sells 240,460 Shares of MGM Resorts International (NYSE:MGM)

Primecap Management Co. CA reduced its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558,490 shares of the company's stock after selling 240,460 shares during the quarter. Primecap Management Co. CA owned 0.19% of MGM Resorts International worth $19,352,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $28,000. Assetmark Inc. raised its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the period. Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $44,000. Finally, Modus Advisors LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $46,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Trading Up 3.3 %

Shares of MGM stock traded up $1.03 on Monday, reaching $32.45. 5,301,397 shares of the stock were exchanged, compared to its average volume of 4,240,215. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a one year low of $29.99 and a one year high of $48.25. The stock has a market cap of $9.27 billion, a PE ratio of 13.52, a P/E/G ratio of 0.98 and a beta of 2.18. The stock has a 50 day moving average price of $34.02 and a 200 day moving average price of $36.07.

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MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping 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%. Equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on MGM shares. Citigroup raised their target price on MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Barclays reaffirmed an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company upped their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus upped their price objective on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.29.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, 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 currently owned by insiders.

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.