Schroder Investment Management Group Reduces Holdings in MGM Resorts International (NYSE:MGM)

Schroder Investment Management Group lessened its position in shares of MGM Resorts International (NYSE:MGM) by 15.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 32,160 shares of the company’s stock after selling 5,981 shares during the quarter. Schroder Investment Management Group’s holdings in MGM Resorts International were worth $1,114,000 at the end of the most recent quarter.

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

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $26.28 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52 week low of $25.53 and a 52 week high of $47.26. The firm’s 50 day moving average is $33.36 and its two-hundred day moving average is $35.60. The firm has a market capitalization of $7.44 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating 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%. Research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, February 14th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost 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 approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the company’s 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 of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

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.