Fisher Asset Management LLC Sells 133,474 Shares of MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC trimmed its holdings in MGM Resorts International (NYSE:MGM) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 4,414,409 shares of the company’s stock after selling 133,474 shares during the quarter. Fisher Asset Management LLC’s holdings in MGM Resorts International were worth $152,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Hosking Partners LLP lifted its position in MGM Resorts International by 1.9% in the fourth quarter. Hosking Partners LLP now owns 849,534 shares of the company’s stock worth $29,436,000 after purchasing an additional 15,577 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at $2,053,000. Checchi Capital Advisers LLC increased its position in MGM Resorts International by 43.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,189 shares of the company’s stock worth $284,000 after purchasing an additional 2,492 shares during the period. Illinois Municipal Retirement Fund increased its position in MGM Resorts International by 60.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 98,833 shares of the company’s stock worth $3,425,000 after purchasing an additional 37,146 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in MGM Resorts International by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock worth $45,876,000 after buying an additional 42,256 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Macquarie reissued an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Stock Up 0.3 %

Shares of MGM Resorts International stock opened at $34.76 on Friday. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. 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 stock’s 50-day moving average is $34.62 and its 200 day moving average is $36.74. The firm has a market cap of $9.93 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. 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.