Fisher Asset Management LLC Sells 133,474 Shares of MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 2.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,414,409 shares of the company’s stock after selling 133,474 shares during the period. Fisher Asset Management LLC owned approximately 1.48% of MGM Resorts International worth $152,959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after buying an additional 309 shares during the period. Ballentine Partners LLC grew its position in MGM Resorts International by 5.4% in the 4th 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 period. Global Retirement Partners LLC grew its position in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Daiwa Securities Group Inc. grew its position in MGM Resorts International by 1.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after purchasing an additional 459 shares during the period. Finally, Blueshift Asset Management LLC grew its position in shares of MGM Resorts International by 1.9% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,436 shares of the company’s stock valued at $994,000 after acquiring an additional 482 shares during the period. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $34.76 on Friday. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.98 and a beta of 2.20. 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 1 year low of $31.61 and a 1 year high of $48.24. The firm has a 50 day moving average price of $34.62 and a 200 day moving average price of $36.74.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 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%. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated 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 directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was 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.

Analyst Ratings Changes

Several brokerages recently weighed in on MGM. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Wells Fargo & Company upped their price target 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. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Citigroup increased 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, Leerink Partners cut shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.