Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in MGM Resorts International (NYSE:MGM)

Sumitomo Mitsui Trust Group Inc. lowered its position in MGM Resorts International (NYSE:MGM - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 435,762 shares of the company's stock after selling 19,910 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.15% of MGM Resorts International worth $15,099,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter valued at about $28,000. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the fourth quarter valued at about $28,000. Eastern Bank acquired a new position in MGM Resorts International in the third quarter valued at about $35,000. Brooklyn Investment Group acquired a new position in MGM Resorts International in the third quarter valued at about $44,000. Finally, Planning Capital Management Corp acquired a new position in MGM Resorts International in the third quarter valued at about $45,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Macquarie reaffirmed an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday. Citigroup upped their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Barclays upped their target price on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $51.47.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Down 1.4 %

NYSE:MGM traded down $0.56 during mid-day trading on Friday, hitting $39.82. The stock had a trading volume of 6,451,467 shares, compared to its average volume of 4,507,628. The stock has a 50-day simple moving average of $34.38 and a two-hundred day simple moving average of $36.73. The company has a market capitalization of $11.85 billion, a PE ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly 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 5.23% and a return on equity of 25.84%. On average, equities research analysts anticipate that MGM Resorts International will post 2.37 EPS for the current year.

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.