Allianz SE Acquires Shares of 33,938 MGM Resorts International (NYSE:MGM)

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

Several other large investors have also made changes to their positions in MGM. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the fourth quarter valued at about $28,000. Assetmark Inc. increased its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after acquiring an additional 411 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Modus Advisors LLC acquired a new stake in MGM Resorts International in the 4th quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in MGM Resorts International by 74.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. The trade was 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 hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Truist Financial cut 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 report on Tuesday, January 14th. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a report on Friday, February 14th. Citigroup lifted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, JMP Securities restated a "market outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

MGM Resorts International Price Performance

NYSE MGM traded down $1.05 during trading on Friday, reaching $26.86. 11,273,696 shares of the company traded hands, compared to its average volume of 4,458,254. MGM Resorts International has a 1-year low of $25.65 and a 1-year high of $47.26. 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 stock's 50 day moving average price is $33.50 and its two-hundred day moving average price is $35.70. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS 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, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current 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.