MGM Resorts International (NYSE:MGM) Shares Sold by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. lowered its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 42.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,088 shares of the company's stock after selling 27,103 shares during the quarter. Savoir Faire Capital Management L.P.'s holdings in MGM Resorts International were worth $1,250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Davis Selected Advisers raised its position in 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. Norges Bank purchased a new position in MGM Resorts International in the 4th quarter valued at about $88,033,000. Charles Schwab Investment Management Inc. increased its stake in 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 worth $79,110,000 after buying an additional 38,749 shares in the last quarter. FMR LLC increased its stake in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after buying an additional 79,486 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of MGM Resorts International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company's stock valued at $45,876,000 after acquiring an additional 42,256 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

MGM has been the subject of several research reports. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Finally, Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $51.29.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 18,301 shares in the company, 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 SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought 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 directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.83% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Up 1.5 %

Shares of MGM Resorts International stock traded up $0.39 on Wednesday, reaching $26.18. 2,000,546 shares of the company were exchanged, compared to its average volume of 4,519,932. The stock's 50 day moving average price is $33.04 and its 200-day moving average price is $35.45. 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 1-year low of $25.10 and a 1-year high of $47.26. The company has a market cap of $7.41 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. As a group, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International 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.