Chevy Chase Trust Holdings LLC Sells 5,036 Shares of MGM Resorts International (NYSE:MGM)

Chevy Chase Trust Holdings LLC lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,743 shares of the company’s stock after selling 5,036 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in MGM Resorts International were worth $4,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC lifted its position in shares of MGM Resorts International by 9.2% during the 4th quarter. V Square Quantitative Management LLC now owns 7,580 shares of the company’s stock worth $263,000 after buying an additional 641 shares during the period. Littlejohn Financial Services Inc. bought a new position in shares of MGM Resorts International during the 4th quarter worth approximately $1,044,000. Essex Financial Services Inc. lifted its position in shares of MGM Resorts International by 22.0% during the 4th quarter. Essex Financial Services Inc. now owns 6,978 shares of the company’s stock worth $242,000 after buying an additional 1,256 shares during the period. Kestra Private Wealth Services LLC raised its position in MGM Resorts International by 5.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 17,337 shares of the company’s stock valued at $601,000 after purchasing an additional 916 shares during the last quarter. Finally, Empowered Funds LLC raised its position in MGM Resorts International by 9.5% in the 4th quarter. Empowered Funds LLC now owns 23,651 shares of the company’s stock valued at $820,000 after purchasing an additional 2,043 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Performance

MGM opened at $38.12 on Wednesday. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.94 and a beta of 2.20. The business has a 50 day moving average of $34.48 and a 200-day moving average of $36.76. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

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 25.84% and a net margin of 5.23%. On average, equities research analysts expect that MGM Resorts International will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho lifted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Susquehanna Bancshares lifted their price objective on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.47.

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.