Bank of New York Mellon Corp Increases Holdings in MGM Resorts International (NYSE:MGM)

Bank of New York Mellon Corp grew its position in MGM Resorts International (NYSE:MGM - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,323,992 shares of the company's stock after acquiring an additional 42,256 shares during the quarter. Bank of New York Mellon Corp owned 0.44% of MGM Resorts International worth $45,876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International in the 3rd quarter valued at $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth $28,000. Global Retirement Partners LLC lifted its stake 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 worth $43,000 after purchasing an additional 404 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth $44,000. Finally, Planning Capital Management Corp acquired a new position in MGM Resorts International during the 3rd quarter valued at about $45,000. Institutional investors own 68.11% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays reaffirmed an "equal weight" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Stifel Nicolaus raised their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Macquarie restated an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.29.

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Insider Activity

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International 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 completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on 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 completion of 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 disclosure for this sale can be found here. Insiders own 2.83% of the company's stock.

MGM Resorts International Trading Up 1.3 %

Shares of NYSE MGM traded up $0.41 during trading on Friday, reaching $32.05. The stock had a trading volume of 9,372,192 shares, compared to its average volume of 5,181,714. MGM Resorts International has a fifty-two week low of $30.69 and a fifty-two week high of $48.24. 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 business's 50-day moving average price is $34.40 and its 200-day moving average price is $36.51. The company has a market cap of $9.15 billion, a P/E ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share 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 research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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.