Oppenheimer & Co. Inc. Sells 23,739 Shares of MGM Resorts International (NYSE:MGM)

Oppenheimer & Co. Inc. reduced its position in MGM Resorts International (NYSE:MGM) by 41.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,167 shares of the company’s stock after selling 23,739 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in MGM Resorts International were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Empower Advisory Group LLC boosted its position in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 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 worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth approximately $2,010,000. Assenagon Asset Management S.A. boosted its position in shares of MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after purchasing an additional 159,522 shares during the period. Finally, Zacks Investment Management boosted its position in shares of MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after purchasing an additional 29,107 shares during the period. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Down 1.9 %

Shares of MGM opened at $32.55 on Wednesday. MGM Resorts International has a twelve month low of $31.60 and a twelve month high of $48.24. The company has a market cap of $9.29 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company’s fifty day simple moving average is $34.60 and its 200-day simple moving average is $36.69.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company boosted their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $51.29.

Insider Activity

In other news, CAO Todd Meinert sold 6,000 shares of the company’s 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 transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% 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.