Brandywine Global Investment Management LLC Sells 206,687 Shares of MGM Resorts International (NYSE:MGM)

Brandywine Global Investment Management LLC reduced its stake in MGM Resorts International (NYSE:MGM) by 30.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,158 shares of the company’s stock after selling 206,687 shares during the period. Brandywine Global Investment Management LLC’s holdings in MGM Resorts International were worth $16,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Allianz SE bought a new position in shares of MGM Resorts International during the fourth quarter valued at $1,166,000. Allstate Corp acquired a new position in MGM Resorts International in the fourth quarter valued at about $223,000. Pictet Asset Management Holding SA grew its stake in MGM Resorts International by 6.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 105,765 shares of the company’s stock worth $3,665,000 after buying an additional 6,847 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of MGM Resorts International by 1.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 73,758 shares of the company’s stock worth $2,556,000 after buying an additional 909 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $4,446,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MGM. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Truist Financial decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Finally, Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Activity

In other MGM Resorts International news, 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 transaction of $227,040.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is owned by company insiders.

MGM Resorts International Price Performance

Shares of MGM opened at $30.35 on Monday. The stock has a market cap of $8.67 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1 year low of $29.80 and a 1 year high of $48.25. The stock’s 50-day moving average price is $33.90 and its two-hundred day moving average price is $35.94. 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 (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities analysts predict that MGM Resorts International will post 2.21 earnings per share 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.