MGM Resorts International (NYSE:MGM) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,007 shares of the company’s stock after purchasing an additional 797 shares during the period. Daiwa Securities Group Inc.’s holdings in MGM Resorts International were worth $1,245,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Capital World Investors increased its holdings in shares of MGM Resorts International by 17.7% during the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the period. Boston Partners boosted its stake in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares in the last quarter. Fisher Asset Management LLC boosted its stake in MGM Resorts International by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock valued at $194,686,000 after buying an additional 213,528 shares in the last quarter. Norges Bank bought a new position in MGM Resorts International during the fourth quarter valued at about $139,599,000. Finally, Westfield Capital Management Co. LP boosted its stake in MGM Resorts International by 21.0% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock valued at $107,295,000 after buying an additional 416,911 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $34.00 per share, with a total value of $340,000.00. Following the completion of the purchase, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Trading Up 1.7 %

Shares of NYSE MGM opened at $36.51 on Monday. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The firm has a market capitalization of $11.45 billion, a PE ratio of 14.04, a PEG ratio of 0.64 and a beta of 2.22. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $39.67 and a two-hundred day moving average price of $41.39.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that MGM Resorts International will post 2.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGM has been the subject of several research reports. UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Macquarie decreased their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley decreased their target price on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Stifel Nicolaus raised their target price on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, BTIG Research assumed coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target for the company. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.93.

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.