33,938 Shares in MGM Resorts International (NYSE:MGM) Acquired by Allianz SE

Allianz SE purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,938 shares of the company's stock, valued at approximately $1,166,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after acquiring an additional 882,417 shares during the last quarter. Norges Bank acquired a new stake in MGM Resorts International during the fourth quarter worth about $88,033,000. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International during the third quarter worth about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock worth $89,832,000 after purchasing an additional 123,124 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents 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.

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Wall Street Analyst Weigh In

Several research firms have recently commented on MGM. Susquehanna Bancshares lifted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

MGM Resorts International Stock Up 1.0 %

MGM stock traded up $0.29 during mid-day trading on Tuesday, reaching $29.93. The company had a trading volume of 6,420,152 shares, compared to its average volume of 4,372,971. The firm has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $35.85. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a fifty-two week low of $28.63 and a fifty-two week high of $47.45.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued 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 net margin of 4.33% and a return on equity of 21.08%. Analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.