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

Vinva Investment Management Ltd lessened its position in shares of MGM Resorts International (NYSE:MGM) by 56.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,736 shares of the company’s stock after selling 77,517 shares during the quarter. Vinva Investment Management Ltd’s holdings in MGM Resorts International were worth $2,736,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MGM. Regatta Capital Group LLC lifted its stake in MGM Resorts International by 1.8% in the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the last quarter. Sandy Spring Bank boosted its position 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 acquiring an additional 288 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after acquiring an additional 292 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in MGM Resorts International by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock worth $2,953,000 after purchasing an additional 302 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in MGM Resorts International by 2.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 11,731 shares of the company’s stock valued at $534,000 after purchasing an additional 312 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGM has been the subject of several research analyst reports. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Morgan Stanley raised their price objective on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and boosted their target price for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Mizuho raised their price target on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded up $0.60 during trading on Friday, reaching $40.69. The company’s stock had a trading volume of 3,041,450 shares, compared to its average volume of 3,252,705. The business has a 50 day moving average price of $41.83 and a 200-day moving average price of $42.77. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a market capitalization of $12.76 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.87 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.9 EPS for the current year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the company’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 owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the sale, the director now directly owns 5,250 shares of the company’s stock, valued at approximately $215,355. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The disclosure for this sale can be found here. In the last three months, insiders sold 333,688 shares of company stock worth $14,300,967. Company insiders own 2.13% of the company’s stock.

About MGM Resorts International

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.