Journey Strategic Wealth LLC Sells 1,450 Shares of MGM Resorts International (NYSE:MGM)

Journey Strategic Wealth LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 8,148 shares of the company’s stock after selling 1,450 shares during the period. Journey Strategic Wealth LLC’s holdings in MGM Resorts International were worth $282,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MGM. Fisher Asset Management LLC boosted its position in shares of 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 worth $177,777,000 after purchasing an additional 90,645 shares during the last quarter. Goldentree Asset Management LP grew its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MGM Resorts International by 5.7% in the 3rd 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 during the last quarter. Finally, FMR LLC raised its position in shares of MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after acquiring an additional 79,486 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on MGM shares. Barclays cut their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley lifted their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Mizuho lowered their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, Truist Financial cut their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $34.13 on Tuesday. The business’s 50 day simple moving average is $34.71 and its 200 day simple moving average is $37.19. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The stock has a market capitalization of $10.16 billion, a PE ratio of 12.19, a PEG ratio of 2.93 and a beta of 2.21.

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.