MGM Resorts International (NYSE:MGM) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its stake in MGM Resorts International (NYSE:MGM) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,954 shares of the company’s stock after selling 353 shares during the quarter. Bleakley Financial Group LLC’s holdings in MGM Resorts International were worth $276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of MGM Resorts International by 36.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,625 shares of the company’s stock valued at $856,000 after acquiring an additional 6,588 shares in the last quarter. Spire Wealth Management lifted its position in shares of MGM Resorts International by 43.3% in the fourth quarter. Spire Wealth Management now owns 2,698 shares of the company’s stock valued at $94,000 after acquiring an additional 815 shares in the last quarter. Osborne Partners Capital Management LLC lifted its position in shares of MGM Resorts International by 2.3% in the fourth quarter. Osborne Partners Capital Management LLC now owns 313,364 shares of the company’s stock valued at $10,858,000 after acquiring an additional 7,041 shares in the last quarter. Dohj LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at $632,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at $79,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGM has been the topic of several recent research reports. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Barclays reduced their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group lowered their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.93.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.13% of the stock is owned by insiders.

MGM Resorts International Stock Down 0.3 %

NYSE:MGM opened at $34.26 on Wednesday. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The business’s fifty day moving average price is $34.31 and its 200 day moving average price is $36.83.

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.