Boston Partners Has $126.26 Million Stake in MGM Resorts International (NYSE:MGM)

Boston Partners lessened its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 38.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,653,426 shares of the company's stock after selling 2,271,140 shares during the quarter. Boston Partners owned 1.23% of MGM Resorts International worth $126,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock valued at $177,777,000 after buying an additional 90,645 shares during the period. Goldentree Asset Management LP increased its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after buying an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at $97,725,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MGM Resorts International by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock valued at $89,832,000 after buying an additional 123,124 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

MGM has been the subject of several research reports. Susquehanna Bancshares lifted their target price on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Truist Financial reduced their price target on MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Stifel Nicolaus raised their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.29.

MGM Resorts International Stock Down 3.4 %

Shares of NYSE:MGM traded down $1.11 during midday trading on Friday, reaching $31.42. The company had a trading volume of 13,130,243 shares, compared to its average volume of 4,235,959. 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's 50 day moving average price is $34.02 and its 200 day moving average price is $36.07. The stock has a market cap of $8.97 billion, a PE ratio of 13.09, a P/E/G ratio of 0.98 and a beta of 2.18. 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 released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. Research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

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

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.