Aster Capital Management DIFC Ltd Sells 17,573 Shares of MGM Resorts International (NYSE:MGM)

Aster Capital Management DIFC Ltd lowered its stake in MGM Resorts International (NYSE:MGM) by 95.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 750 shares of the company’s stock after selling 17,573 shares during the period. Aster Capital Management DIFC Ltd’s holdings in MGM Resorts International were worth $26,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares during the period. Norges Bank acquired a new position in MGM Resorts International in the 4th quarter valued at approximately $88,033,000. Charles Schwab Investment Management Inc. raised its stake in shares of MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after acquiring an additional 38,749 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of MGM Resorts International by 11.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,910,828 shares of the company’s stock worth $66,210,000 after purchasing an additional 198,449 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in MGM Resorts International by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock valued at $45,876,000 after purchasing an additional 42,256 shares during the period. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Stifel Nicolaus upped their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Wells Fargo & Company boosted their target price 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. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Performance

NYSE MGM opened at $28.74 on Friday. The company has a market cap of $8.13 billion, a P/E ratio of 11.97, a PEG ratio of 0.98 and a beta of 1.96. The company has a fifty day simple moving average of $32.75 and a 200 day simple moving average of $35.30. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.83% of the company’s stock.

MGM Resorts International 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.