MGM Resorts International (NYSE:MGM) Stock Position Reduced by River Road Asset Management LLC

River Road Asset Management LLC decreased its stake in MGM Resorts International (NYSE:MGM) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,064 shares of the company’s stock after selling 3,296 shares during the quarter. River Road Asset Management LLC’s holdings in MGM Resorts International were worth $7,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. Tyche Wealth Partners LLC purchased a new position in MGM Resorts International in the fourth quarter valued at about $361,000. Desjardins Global Asset Management Inc. lifted its holdings in shares of MGM Resorts International by 1.1% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 43,654 shares of the company’s stock valued at $1,950,000 after buying an additional 472 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in shares of MGM Resorts International by 2.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 50,504 shares of the company’s stock valued at $2,257,000 after buying an additional 1,357 shares in the last quarter. SVB Wealth LLC increased its holdings in MGM Resorts International by 41.7% in the fourth quarter. SVB Wealth LLC now owns 8,762 shares of the company’s stock worth $391,000 after buying an additional 2,579 shares during the last quarter. Finally, Sippican Capital Advisors lifted its stake in MGM Resorts International by 2.5% in the fourth quarter. Sippican Capital Advisors now owns 52,740 shares of the company’s stock valued at $2,356,000 after acquiring an additional 1,275 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.3 %

Shares of MGM Resorts International stock opened at $41.90 on Thursday. The stock has a market capitalization of $13.28 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.72 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The company has a 50-day simple moving average of $44.08 and a 200 day simple moving average of $41.86.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. Research analysts expect that MGM Resorts International will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Macquarie reiterated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Barclays dropped their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating and set a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.34.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.13% of the stock is owned by company insiders.

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.