Mitsubishi UFJ Trust & Banking Corp Trims Holdings in MGM Resorts International (NYSE:MGM)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in MGM Resorts International (NYSE:MGM) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,143 shares of the company’s stock after selling 3,417 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of MGM Resorts International worth $8,945,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares during the last quarter. Ballentine Partners LLC increased its position in MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in MGM Resorts International by 47.8% in 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. Finally, Assetmark Inc. grew its stake in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGM. Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Citigroup upped their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Wells Fargo & Company increased their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Six equities research 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 has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Down 4.0 %

Shares of MGM stock opened at $30.35 on Friday. 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 one year low of $29.99 and a one year high of $48.25. The company’s fifty day moving average price is $33.90 and its 200-day moving average price is $35.94. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly 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 return on equity of 21.08% and a net margin of 4.33%. Sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The shares were 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 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 corporate insiders.

MGM Resorts International Company 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.