Aviva PLC Has $4.78 Million Stake in MGM Resorts International (NYSE:MGM)

Aviva PLC lifted its position in MGM Resorts International (NYSE:MGM - Free Report) by 1,243.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,912 shares of the company's stock after buying an additional 127,647 shares during the period. Aviva PLC's holdings in MGM Resorts International were worth $4,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Davis Selected Advisers raised its stake in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after acquiring an additional 882,417 shares during the last quarter. Norges Bank purchased a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $88,033,000. Charles Schwab Investment Management Inc. lifted its stake in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock worth $79,110,000 after purchasing an additional 38,749 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of MGM Resorts International by 11.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,910,828 shares of the company's stock valued at $66,210,000 after acquiring an additional 198,449 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of MGM Resorts International by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company's stock valued at $45,876,000 after purchasing an additional 42,256 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

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MGM Resorts International Stock Performance

MGM stock traded up $0.32 during midday trading on Monday, hitting $29.67. 2,892,249 shares of the company traded hands, compared to its average volume of 4,576,290. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The business has a 50 day simple moving average of $32.64 and a 200-day simple moving average of $35.23. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Mizuho upped their target price 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. JMP Securities restated a "market outperform" rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Friday, February 14th. Wedbush reissued an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Truist Financial dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

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.