KBC Group NV Acquires 375,693 Shares of MGM Resorts International (NYSE:MGM)

KBC Group NV lifted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 3,041.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,047 shares of the company's stock after buying an additional 375,693 shares during the quarter. KBC Group NV owned about 0.13% of MGM Resorts International worth $13,446,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International in the 4th quarter valued at $28,000. Eastern Bank bought a new position in shares of MGM Resorts International in the third quarter worth $35,000. Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the third quarter worth $44,000. Finally, Planning Capital Management Corp bought a new stake in MGM Resorts International during the third quarter valued at $45,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.13% of the company's stock.

MGM Resorts International Stock Up 1.0 %

Shares of MGM traded up $0.36 on Thursday, reaching $34.37. The stock had a trading volume of 3,218,841 shares, compared to its average volume of 4,622,828. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company has a 50-day simple moving average of $34.93 and a 200-day simple moving average of $37.50. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same period last year, the business earned $0.64 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that MGM Resorts International will post 2.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MGM shares. JMP Securities reissued a "market outperform" rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, January 16th. Jefferies Financial Group cut their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Finally, Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $51.93.

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.