ExodusPoint Capital Management LP Sells 132,546 Shares of MGM Resorts International (NYSE:MGM)

ExodusPoint Capital Management LP reduced its position in shares of MGM Resorts International (NYSE:MGM) by 83.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,303 shares of the company’s stock after selling 132,546 shares during the quarter. ExodusPoint Capital Management LP’s holdings in MGM Resorts International were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Davis Selected Advisers raised its position in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after acquiring an additional 882,417 shares in the last quarter. Norges Bank bought a new stake in MGM Resorts International during the fourth quarter worth $88,033,000. Charles Schwab Investment Management Inc. raised its position in MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after acquiring an additional 38,749 shares in the last quarter. Bank of New York Mellon Corp raised its position in MGM Resorts International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock worth $45,876,000 after acquiring an additional 42,256 shares in the last quarter. Finally, Hosking Partners LLP raised its position in MGM Resorts International by 1.9% during the fourth quarter. Hosking Partners LLP now owns 849,534 shares of the company’s stock worth $29,436,000 after acquiring an additional 15,577 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MGM has been the topic of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Capital One Financial upped their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Citigroup upped their price objective on shares of MGM Resorts International from $48.00 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Down 4.0 %

MGM stock opened at $28.74 on Friday. The stock has a market capitalization of $8.13 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The firm has a 50-day moving average price of $32.75 and a 200-day moving average price of $35.30.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 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%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.83% of the stock is owned by company insiders.

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.