O Shaughnessy Asset Management LLC Lowers Holdings in MGM Resorts International (NYSE:MGM)

O Shaughnessy Asset Management LLC reduced its position in shares of MGM Resorts International (NYSE:MGM) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,842 shares of the company’s stock after selling 9,127 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in MGM Resorts International were worth $2,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ballentine Partners LLC grew its position in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after buying an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after acquiring an additional 333 shares in the last quarter. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares in the last quarter. Assetmark Inc. increased its position in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of MGM Resorts International by 0.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company’s stock valued at $5,073,000 after purchasing an additional 469 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGM has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, February 14th. Mizuho lifted their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.29.

Insider Activity at MGM Resorts International

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was purchased 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 directly owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Trading Down 3.7 %

Shares of NYSE:MGM opened at $26.86 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52-week low of $25.61 and a 52-week high of $47.26. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.98 and a beta of 1.96. The business has a 50-day moving average price of $33.50 and a 200-day moving average price of $35.70.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International Company 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.