Orion Portfolio Solutions LLC Has $222,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Orion Portfolio Solutions LLC lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,421 shares of the company’s stock after selling 678 shares during the period. Orion Portfolio Solutions LLC’s holdings in MGM Resorts International were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Davis Selected Advisers grew its position in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Norges Bank acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $88,033,000. Charles Schwab Investment Management Inc. increased its position 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 worth $79,110,000 after acquiring an additional 38,749 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MGM Resorts International by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock worth $45,876,000 after acquiring an additional 42,256 shares during the last quarter. Finally, Hosking Partners LLP lifted its position in MGM Resorts International by 1.9% in the 4th quarter. Hosking Partners LLP now owns 849,534 shares of the company’s stock valued at $29,436,000 after acquiring an additional 15,577 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MGM shares. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citigroup lifted their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Six 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Trading Down 4.0 %

NYSE:MGM opened at $28.74 on Friday. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. 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 firm’s 50 day moving average is $32.75 and its 200 day moving average is $35.30. The stock has a market capitalization of $8.13 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current 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.