Braun Stacey Associates Inc. cut its stake in MGM Resorts International (NYSE:MGM) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 426,565 shares of the company’s stock after selling 36,735 shares during the quarter. Braun Stacey Associates Inc. owned about 0.08% of MGM Resorts International worth $14,243,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. PointState Capital LP purchased a new stake in MGM Resorts International during the 2nd quarter valued at about $239,347,000. Maverick Capital Ltd. purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at about $215,381,000. FMR LLC boosted its holdings in shares of MGM Resorts International by 66.7% during the 2nd quarter. FMR LLC now owns 7,242,214 shares of the company’s stock valued at $226,609,000 after acquiring an additional 2,897,242 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $87,164,000. Finally, Canyon Capital Advisors LLC boosted its holdings in shares of MGM Resorts International by 8.9% during the 2nd quarter. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company’s stock valued at $607,099,000 after acquiring an additional 1,583,585 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
MGM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $41.00) on shares of MGM Resorts International in a report on Tuesday, January 9th. Roth Capital started coverage on shares of MGM Resorts International in a research note on Wednesday, October 25th. They issued a “buy” rating and a $38.00 price objective on the stock. Zacks Investment Research cut shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Finally, Jefferies Group assumed coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.38.
MGM Resorts International (MGM) traded up $0.97 during midday trading on Wednesday, reaching $34.10. 3,675,133 shares of the company’s stock traded hands, compared to its average volume of 8,318,299. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98. The stock has a market capitalization of $18,795.79, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 5.83 and a beta of 1.44. MGM Resorts International has a 52 week low of $25.15 and a 52 week high of $38.41.
In related news, insider Phyllis James sold 19,149 shares of MGM Resorts International stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total value of $644,172.36. Following the completion of the sale, the insider now directly owns 8,961 shares in the company, valued at $301,448.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Charland acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $22.50 per share, with a total value of $562,500.00. 12.20% of the stock is owned by insiders.
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MGM Resorts International Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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