Swiss National Bank Has $22.30 Million Position in MGM Resorts International (NYSE:MGM)

Swiss National Bank lessened its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 643,600 shares of the company's stock after selling 54,700 shares during the period. Swiss National Bank owned approximately 0.22% of MGM Resorts International worth $22,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGM. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock worth $2,080,000 after purchasing an additional 309 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after buying an additional 333 shares in the last quarter. Global Retirement Partners LLC increased its position in MGM Resorts International by 47.8% in 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 in the last quarter. Finally, Assetmark Inc. raised its position in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

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Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction 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 directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, 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. Insiders own 2.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MGM. Wedbush reissued an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Truist Financial dropped 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. Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Stifel Nicolaus increased their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.29.

MGM Resorts International Stock Down 3.4 %

MGM Resorts International stock traded down $1.11 during midday trading on Friday, reaching $31.42. The stock had a trading volume of 13,129,599 shares, compared to its average volume of 4,221,225. The stock has a market capitalization of $8.97 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The firm's fifty day simple moving average is $34.03 and its 200-day simple moving average is $36.12. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates 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 expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International 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.