MGM Resorts International (NYSE:MGM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 996,335 shares of the company's stock after selling 34,500 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of MGM Resorts International worth $44,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tyler Stone Wealth Management purchased a new stake in shares of MGM Resorts International in the second quarter valued at about $26,000. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of MGM Resorts International in the 2nd quarter valued at approximately $31,000. VitalStone Financial LLC increased its holdings in shares of MGM Resorts International by 108.9% during the 1st quarter. VitalStone Financial LLC now owns 729 shares of the company's stock worth $33,000 after buying an additional 380 shares during the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at approximately $27,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MGM shares. Morgan Stanley raised their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Mizuho began coverage on MGM Resorts International in a research report on Tuesday, March 26th. They set a "buy" rating and a $61.00 price objective for the company. Barclays reduced their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an "overweight" rating on the stock in a report on Wednesday, February 14th. Bank Of America (Bofa) increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Finally, Macquarie reiterated an "outperform" rating and set a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.34.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.13% of the company's stock.

MGM Resorts International Stock Down 5.0 %

NYSE MGM traded down $2.24 during trading hours on Friday, hitting $42.48. 4,492,055 shares of the company were exchanged, compared to its average volume of 3,911,331. The company has a 50 day moving average of $44.26 and a two-hundred day moving average of $41.66. 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 firm has a market cap of $13.47 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.92 and a beta of 2.19. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 2.5 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.