Prudential PLC Takes $436,000 Position in MGM Resorts International (NYSE:MGM)

Prudential PLC bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 12,570 shares of the company's stock, valued at approximately $436,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at about $28,000. 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. Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares in the last quarter. Modus Advisors LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of MGM Resorts International by 74.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after acquiring an additional 633 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MGM. Mizuho boosted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Morgan Stanley increased their price target on MGM Resorts International from $39.00 to $41.00 and gave the company an "equal weight" rating in a research note on Monday, February 24th. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their target price 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.29.

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MGM Resorts International Trading Up 1.4 %

Shares of MGM stock traded up $0.40 during mid-day trading on Monday, reaching $29.75. 724,503 shares of the stock traded hands, compared to its average volume of 4,567,690. The stock's fifty day simple moving average is $32.64 and its two-hundred day simple moving average is $35.23. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (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%. On average, research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was acquired 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 of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction 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 represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

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.