MGM Resorts International (NYSE:MGM) Holdings Decreased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,796 shares of the company’s stock after selling 2,734 shares during the quarter. Asset Management One Co. Ltd.’s holdings in MGM Resorts International were worth $3,018,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MGM. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International during the third quarter valued at about $97,725,000. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in MGM Resorts International in the third quarter worth about $17,622,000. ArrowMark Colorado Holdings LLC raised its position in MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after acquiring an additional 442,975 shares in the last quarter. Finally, KBC Group NV raised its position in MGM Resorts International by 3,041.1% in the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after acquiring an additional 375,693 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.83% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the topic of several research reports. Capital One Financial boosted their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Truist Financial dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Barclays boosted their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Trading Up 0.8 %

NYSE:MGM opened at $38.38 on Thursday. 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 fifty-two week low of $31.61 and a fifty-two week high of $48.24. The stock’s 50-day moving average is $34.51 and its two-hundred day moving average is $36.78. The stock has a market cap of $11.43 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 3.24 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities research analysts forecast that MGM Resorts International will post 2.19 earnings per share for the current fiscal year.

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.