Xponance Inc. has recently reduced its holdings in MGM Resorts International (MGM:NYE), selling 20,467 shares and lowering its holdings in the company by 32.9% during the fourth quarter. As per the company’s filing with the SEC, Xponance Inc. now owns 41,664 shares of MGM stock, which is worth $1,397,000 as of the end of the fourth quarter.
Several other investors have either increased or decreased their stakes in the company as well. Price T Rowe Associates Inc. MD, for example, increased its position in MGM Resorts International by 19.4% in the second quarter, while Invesco Ltd. boosted its stake in MGM Resorts International by 8.6% during the first quarter.
MGM Stock Analysis:
The stock of MGM Resorts International opened at $43.18 on Thursday, with a market cap of $16.10 billion, a PE ratio of 12.78, and a beta of 2.06. The company has a quick ratio of 1.78, a current ratio of 1.81, and a debt-to-equity ratio of 1.43.
The board of MGM Resorts International authorized a stock buyback plan, allowing the company to buy back $2.00 billion in outstanding shares. A number of brokerages have also issued reports on MGM, with Stifel Nicolaus increasing its price target for the company from $42.00 to $46.00 and raising its rating from “hold” to “buy.”