Dodge & Cox Invests $537,000 in MGM Resorts International (NYSE:MGM)

Dodge & Cox bought a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,500 shares of the company's stock, valued at approximately $537,000.

Other large investors have also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $28,000. Assetmark Inc. raised its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC grew its position in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the period. Modus Advisors LLC purchased a new stake in MGM Resorts International in the 4th quarter valued at about $46,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MGM Resorts International by 74.9% during 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 period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

NYSE MGM traded up $0.43 during trading on Friday, reaching $28.89. 4,333,562 shares of the company traded hands, compared to its average volume of 4,617,484. 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 $32.12 and its two-hundred day moving average price is $34.93. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its 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 net margin of 4.33% and a return on equity of 21.08%. As a group, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on MGM. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Mizuho boosted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. JMP Securities decreased their price objective on shares of MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating on the stock in a research report on Thursday. Finally, Morgan Stanley lowered their target price on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and an average target price of $50.71.

Insider Transactions at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the 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 sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.