MGM Resorts International (NYSE:MGM) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,419 shares of the company's stock after selling 34,966 shares during the period. Victory Capital Management Inc.'s holdings in MGM Resorts International were worth $2,752,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGM. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth $28,000. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Global Retirement Partners LLC grew its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares during the period. Brooklyn Investment Group purchased a new position in MGM Resorts International in the third quarter valued at about $44,000. Finally, Modus Advisors LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Down 0.5 %

Shares of NYSE MGM traded down $0.17 on Thursday, reaching $32.52. 3,402,122 shares of the company traded hands, compared to its average volume of 4,175,084. MGM Resorts International has a fifty-two week low of $29.99 and a fifty-two week high of $48.25. The company has a 50 day moving average of $34.03 and a 200 day moving average of $36.14. The stock has a market capitalization of $9.29 billion, a PE ratio of 13.59, 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.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Friday, February 14th. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Mizuho boosted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus raised their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.29.

Insider Activity

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was 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 owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

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.