Atomi Financial Group Inc. Sells 3,134 Shares of MGM Resorts International (NYSE:MGM)

Atomi Financial Group Inc. decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 25.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,183 shares of the company’s stock after selling 3,134 shares during the quarter. Atomi Financial Group Inc.’s holdings in MGM Resorts International were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MGM. Ballentine Partners LLC grew its stake in MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in MGM Resorts International by 6.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock worth $926,000 after purchasing an additional 1,585 shares in the last quarter. Merit Financial Group LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $243,000. Empirical Asset Management LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $3,418,000. Finally, Assenagon Asset Management S.A. grew its stake in 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 in the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MGM. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Barclays lowered their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Mizuho lowered their target price 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 restated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $32.90 on Friday. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The business has a fifty day moving average of $35.15 and a 200 day moving average of $37.75. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, research analysts expect that MGM Resorts International will post 2.41 earnings per share for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is currently owned by company insiders.

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.