Levin Capital Strategies L.P. Sells 24,703 Shares of MGM Resorts International (NYSE:MGM)

Levin Capital Strategies L.P. lessened its position in MGM Resorts International (NYSE:MGM) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,565 shares of the company’s stock after selling 24,703 shares during the period. Levin Capital Strategies L.P.’s holdings in MGM Resorts International were worth $2,826,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the third quarter worth $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the third quarter worth $45,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $34.76 on Friday. The firm has a 50-day moving average of $34.62 and a 200-day moving average of $36.74. 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 stock has a market cap of $9.93 billion, a PE ratio of 14.48, a P/E/G ratio of 0.98 and a beta of 2.20. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24.

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

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Analysts Set New Price Targets

MGM has been the subject of several research reports. Susquehanna Bancshares increased their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Jefferies Financial Group reduced their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, February 14th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.