Venturi Wealth Management LLC Lowers Stock Position in MGM Resorts International (NYSE:MGM)

Venturi Wealth Management LLC lessened its stake in MGM Resorts International (NYSE:MGM) by 14.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,195 shares of the company’s stock after selling 559 shares during the quarter. Venturi Wealth Management LLC’s holdings in MGM Resorts International were worth $111,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MGM. Empower Advisory Group LLC boosted its stake in shares of MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after purchasing an additional 62,997 shares in the last quarter. Goldentree Asset Management LP lifted its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International during the fourth quarter valued at about $2,010,000. Assenagon Asset Management S.A. grew its stake in shares of MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MGM. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho increased their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley reaffirmed an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company’s 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 completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 6.0 %

Shares of NYSE MGM opened at $36.02 on Monday. The business’s 50 day moving average price is $34.53 and its 200-day moving average price is $36.81. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

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.