Venturi Wealth Management LLC Has $111,000 Position in MGM Resorts International (NYSE:MGM)

Venturi Wealth Management LLC lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 14.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,195 shares of the company’s stock after selling 559 shares during the quarter. Venturi Wealth Management LLC’s holdings in MGM Resorts International were worth $111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC boosted its stake in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International in the third quarter valued at about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after acquiring an additional 123,124 shares in the last quarter. Finally, FMR LLC increased its position in MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after acquiring an additional 79,486 shares during the period. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on 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 approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was 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 represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MGM. Capital One Financial increased their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Citigroup boosted their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Trading Down 6.0 %

NYSE MGM opened at $36.02 on Monday. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The business’s fifty day moving average is $34.53 and its 200 day moving average is $36.81.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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, sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

About MGM Resorts International

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.