MGM Resorts International (NYSE:MGM) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lessened its holdings in MGM Resorts International (NYSE:MGM) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,693 shares of the company’s stock after selling 2,352 shares during the period. OneDigital Investment Advisors LLC’s holdings in MGM Resorts International were worth $474,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after buying an additional 38,749 shares during the last quarter. Korea Investment CORP increased its position in MGM Resorts International by 964.3% during the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock worth $5,034,000 after purchasing an additional 131,636 shares in the last quarter. ACR Alpine Capital Research LLC raised its stake in MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after purchasing an additional 30,605 shares during the last quarter. Davis Selected Advisers boosted its stake in shares of MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $2,010,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on MGM. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Jefferies Financial Group dropped their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Morgan Stanley dropped their price objective on shares of MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Citigroup boosted their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Susquehanna Bancshares lifted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.06.

MGM Resorts International Price Performance

Shares of MGM stock opened at $31.69 on Monday. The firm has a market cap of $8.97 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.98 and a beta of 1.96. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The firm has a fifty day moving average of $31.33 and a two-hundred day moving average of $34.53.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. As a group, research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International 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.