SBI Securities Co. Ltd. Buys New Stake in MGM Resorts International (NYSE:MGM)

SBI Securities Co. Ltd. purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,631 shares of the company’s stock, valued at approximately $57,000.

Several other large investors have also recently added to or reduced their stakes in MGM. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International in the third quarter worth about $97,725,000. Goldentree Asset Management LP lifted its position in MGM Resorts International by 86.4% during the 3rd 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. acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $17,622,000. ArrowMark Colorado Holdings LLC boosted its holdings in MGM Resorts International by 207.5% in the 3rd 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 during the period. Finally, KBC Group NV grew 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 valued at $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 and hedge funds.

MGM Resorts International Trading Down 0.5 %

NYSE MGM opened at $31.86 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. The company has a 50-day simple moving average of $34.40 and a 200-day simple moving average of $36.48. The firm has a market capitalization of $9.10 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of 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. Capital One Financial upped their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Company 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.