Catalina Capital Group LLC Trims Stake in MGM Resorts International (NYSE:MGM)

Catalina Capital Group LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,207 shares of the company’s stock after selling 329 shares during the quarter. Catalina Capital Group LLC’s holdings in MGM Resorts International were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGM. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International during the third quarter worth about $28,000. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Eastern Bank acquired a new stake in MGM Resorts International in the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new stake in MGM Resorts International in the third quarter valued at approximately $44,000. Finally, Planning Capital Management Corp acquired a new position in MGM Resorts International during the third quarter worth $45,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $34.13 on Tuesday. 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 12 month low of $31.61 and a 12 month high of $48.24. The firm has a market capitalization of $10.16 billion, a P/E ratio of 12.19, a P/E/G ratio of 2.93 and a beta of 2.21. The company’s fifty day moving average price is $34.71 and its 200 day moving average price is $37.19.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, 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 SEC, which is available at the SEC website. Company insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MGM shares. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group reduced their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

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.