Empower Advisory Group LLC Sells 208,279 Shares of MGM Resorts International (NYSE:MGM)

Empower Advisory Group LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,363,213 shares of the company’s stock after selling 208,279 shares during the quarter. Empower Advisory Group LLC owned approximately 0.46% of MGM Resorts International worth $47,235,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MGM. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of MGM Resorts International by 1.6% in the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after buying an additional 459 shares in the last quarter. Blueshift Asset Management LLC boosted its stake in MGM Resorts International by 1.9% during the third quarter. Blueshift Asset Management LLC now owns 25,436 shares of the company’s stock valued at $994,000 after buying an additional 482 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its stake in MGM Resorts International by 3.8% in the 3rd quarter. Hilltop Holdings Inc. now owns 13,198 shares of the company’s stock worth $516,000 after acquiring an additional 489 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

MGM has been the subject of a number of research reports. Capital One Financial increased their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $39.82 on Tuesday. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. The firm has a 50-day moving average of $34.45 and a two-hundred day moving average of $36.75. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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 25.84% and a net margin of 5.23%. On average, research analysts forecast that MGM Resorts International will post 2.37 earnings per share 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.