Sumitomo Mitsui Asset Management Company LTD lowered its holdings in shares of MGM Resorts International (NYSE:MGM) by 8.8% in the 4th quarter, HoldingsChannel reports. The firm owned 34,059 shares of the company’s stock after selling 3,306 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in MGM Resorts International were worth $1,137,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Canyon Capital Advisors LLC grew its position in shares of MGM Resorts International by 8.9% during the second quarter. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company’s stock worth $607,099,000 after purchasing an additional 1,583,585 shares in the last quarter. State Street Corp grew its position in shares of MGM Resorts International by 1.0% during the second quarter. State Street Corp now owns 8,934,495 shares of the company’s stock worth $279,564,000 after purchasing an additional 92,329 shares in the last quarter. PointState Capital LP purchased a new stake in shares of MGM Resorts International during the second quarter worth about $239,347,000. Iridian Asset Management LLC CT grew its position in shares of MGM Resorts International by 13.4% during the third quarter. Iridian Asset Management LLC CT now owns 6,961,786 shares of the company’s stock worth $226,885,000 after purchasing an additional 823,891 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of MGM Resorts International by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 5,610,995 shares of the company’s stock worth $182,848,000 after purchasing an additional 221,406 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on MGM Resorts International from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $36.00 price target (up previously from $33.00) on shares of MGM Resorts International in a report on Thursday, November 9th. Jefferies Group assumed coverage on MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 price target for the company. Nomura cut their price target on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded MGM Resorts International from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. MGM Resorts International presently has a consensus rating of “Buy” and a consensus price target of $37.20.

In other news, EVP John Mcmanus sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $33.35, for a total value of $333,500.00. Following the completion of the sale, the executive vice president now directly owns 54,337 shares of the company’s stock, valued at approximately $1,812,138.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Baldwin sold 61,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.56, for a total value of $2,005,696.00. Following the completion of the sale, the insider now directly owns 70,049 shares of the company’s stock, valued at $2,280,795.44. The disclosure for this sale can be found here. Insiders sold a total of 96,877 shares of company stock valued at $3,187,002 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.

Shares of MGM Resorts International (NYSE:MGM) opened at $35.58 on Friday. The stock has a market capitalization of $20,850.87, a P/E ratio of 32.59, a PEG ratio of 6.47 and a beta of 1.44. MGM Resorts International has a one year low of $25.15 and a one year high of $38.41. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. MGM Resorts International had a return on equity of 6.47% and a net margin of 5.44%. sell-side analysts predict that MGM Resorts International will post 1.09 earnings per share for the current fiscal year.

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About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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