River Road Asset Management LLC Sells 3,296 Shares of MGM Resorts International (NYSE:MGM)

River Road Asset Management LLC lessened its holdings in MGM Resorts International (NYSE:MGM) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,064 shares of the company’s stock after selling 3,296 shares during the quarter. River Road Asset Management LLC’s holdings in MGM Resorts International were worth $7,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Regatta Capital Group LLC increased its holdings in MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after buying an additional 247 shares during the last quarter. Sandy Spring Bank lifted its stake in MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares during the last quarter. Fifth Third Bancorp grew its holdings in MGM Resorts International by 2.4% during the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock valued at $447,000 after purchasing an additional 289 shares during the period. Kingswood Wealth Advisors LLC increased its position in MGM Resorts International by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after buying an additional 292 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of MGM Resorts International by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after buying an additional 302 shares during the period. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

Shares of MGM opened at $41.90 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average price of $44.08 and a 200-day moving average price of $41.86. The company has a market cap of $13.28 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 1.72 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. MGM Resorts International’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, equities analysts forecast that MGM Resorts International will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGM. Barclays decreased their price objective on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Bank Of America (Bofa) lifted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley increased their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.13% of the stock is currently owned by insiders.

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.