Victory Capital Management Inc. Sells 31,569 Shares of MGM Resorts International (NYSE:MGM)

Victory Capital Management Inc. lessened its stake in MGM Resorts International (NYSE:MGM - Free Report) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,775 shares of the company's stock after selling 31,569 shares during the period. Victory Capital Management Inc.'s holdings in MGM Resorts International were worth $5,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MGM. CVA Family Office LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at about $28,000. Massmutual Trust Co. FSB ADV lifted its stake in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company's stock valued at $49,000 after buying an additional 367 shares during the period. Sandy Spring Bank boosted its holdings in shares of MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company's stock worth $51,000 after buying an additional 288 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company's stock worth $44,000 after buying an additional 1,000 shares during the period. Finally, RIA Advisory Group LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Wall Street Analyst Weigh In

MGM has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 9th. Bank Of America (Bofa) increased their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. JMP Securities increased their price target on MGM Resorts International from $57.00 to $58.00 and gave the stock a "market outperform" rating in a report on Monday, May 6th. Finally, Susquehanna upgraded MGM Resorts International from a "neutral" rating to a "positive" rating and boosted their price objective for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.83.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company's stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by insiders.

MGM Resorts International Stock Up 0.6 %

NYSE:MGM traded up $0.26 on Wednesday, hitting $41.55. The stock had a trading volume of 3,006,182 shares, compared to its average volume of 3,866,824. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm's fifty day simple moving average is $43.30 and its two-hundred day simple moving average is $42.58. The stock has a market cap of $13.03 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.90 and a beta of 2.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. MGM Resorts International's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Analysts predict that MGM Resorts International will post 2.9 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.