Journey Strategic Wealth LLC Has $282,000 Stock Position in MGM Resorts International (NYSE:MGM)

Journey Strategic Wealth LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,148 shares of the company’s stock after selling 1,450 shares during the quarter. Journey Strategic Wealth LLC’s holdings in MGM Resorts International were worth $282,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MGM. Empower Advisory Group LLC raised its position in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the period. Goldentree Asset Management LP increased its holdings in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter worth approximately $2,010,000. Assenagon Asset Management S.A. boosted its holdings in shares of MGM Resorts International by 80.3% during 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 during the period. Finally, Zacks Investment Management grew its position in MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after purchasing an additional 29,107 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated 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 owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $34.13 on Tuesday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The business’s 50 day moving average is $34.71 and its two-hundred day moving average is $37.19. The company has a market cap 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 has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Mizuho cut their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, BTIG Research downgraded 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. According to data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus 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.