DekaBank Deutsche Girozentrale Boosts Position in MGM Resorts International (NYSE:MGM)

DekaBank Deutsche Girozentrale raised its position in MGM Resorts International (NYSE:MGM) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,345 shares of the company’s stock after purchasing an additional 2,078 shares during the period. DekaBank Deutsche Girozentrale’s holdings in MGM Resorts International were worth $2,479,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after purchasing an additional 245 shares during the last quarter. Mendota Financial Group LLC increased its stake in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

MGM has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley cut their target price on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Macquarie reduced their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $36.96 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The firm has a market capitalization of $11.59 billion, a PE ratio of 14.22, a P/E/G ratio of 0.64 and a beta of 2.22. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The business’s fifty day moving average price is $39.39 and its two-hundred day moving average price is $41.31.

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

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now directly owns 377,112 shares in the company, valued at $12,719,987.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $34.00 per share, with a total value of $340,000.00. Following the purchase, the chief financial officer now owns 38,299 shares in the company, valued at $1,302,166. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 216,400 shares of company stock worth $7,312,197. Company insiders own 2.13% of the company’s stock.

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.