Matthew 25 Management Corp Sells 45,000 Shares of MGM Resorts International (NYSE:MGM)

Matthew 25 Management Corp trimmed its stake in MGM Resorts International (NYSE:MGM) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 235,000 shares of the company’s stock after selling 45,000 shares during the quarter. MGM Resorts International accounts for 2.6% of Matthew 25 Management Corp’s portfolio, making the stock its 16th biggest holding. Matthew 25 Management Corp owned about 0.08% of MGM Resorts International worth $8,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International during the third quarter valued at $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the fourth quarter valued at approximately $28,000. Eastern Bank bought a new position in MGM Resorts International during the third quarter valued at approximately $35,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International during the third quarter valued at approximately $44,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Performance

NYSE MGM opened at $36.02 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a market capitalization of $10.28 billion, a PE ratio of 15.01, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a fifty day moving average of $34.53 and a two-hundred day moving average of $36.81.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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 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 earnings per share for the current year.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the firm’s 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on MGM shares. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Macquarie restated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.