Orion Portfolio Solutions LLC Sells 678 Shares of MGM Resorts International (NYSE:MGM)

Orion Portfolio Solutions LLC lessened its holdings in MGM Resorts International (NYSE:MGM) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,421 shares of the company’s stock after selling 678 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in MGM Resorts International were worth $222,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

MGM has been the topic of several analyst reports. Truist Financial reduced their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Citigroup lifted 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, Capital One Financial upped their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Buying and Selling

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.83% of the stock is owned by insiders.

MGM Resorts International Price Performance

MGM stock opened at $28.74 on Friday. The company has a market capitalization of $8.13 billion, a P/E ratio of 11.97, a PEG ratio of 0.98 and a beta of 1.96. The company has a fifty day moving average price of $32.75 and a 200-day moving average price of $35.30. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

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.