MGM Resorts International (NYSE:MGM) Shares Sold by Zacks Investment Management

Zacks Investment Management cut its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 29.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 281,762 shares of the company's stock after selling 118,631 shares during the period. Zacks Investment Management owned 0.09% of MGM Resorts International worth $9,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ballentine Partners LLC raised its position in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock worth $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC lifted its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the period. Assetmark Inc. grew its position in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of MGM Resorts International by 0.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock valued at $5,073,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Analyst Upgrades and Downgrades

MGM has been the topic of several recent analyst reports. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Friday, February 14th. Barclays reissued an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Susquehanna Bancshares upped their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Morgan Stanley decreased their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Capital One Financial upped their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $50.71.

Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Up 2.9 %

Shares of NYSE MGM traded up $0.83 during midday trading on Tuesday, hitting $29.75. 872,946 shares of the company's stock were exchanged, compared to its average volume of 4,610,508. The firm's fifty day simple moving average is $32.01 and its 200-day simple moving average is $34.79. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market cap of $8.42 billion, a PE ratio of 12.41, a P/E/G ratio of 0.98 and a beta of 1.96. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS 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%. Research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal 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.