Royal London Asset Management Ltd. Increases Stock Position in MGM Resorts International (NYSE:MGM)

Royal London Asset Management Ltd. grew its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,666 shares of the company's stock after buying an additional 18,419 shares during the period. Royal London Asset Management Ltd.'s holdings in MGM Resorts International were worth $3,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 4.6% during 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 period. Fisher Asset Management LLC raised its stake in MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock worth $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP boosted its holdings in 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 purchasing an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $97,725,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 currently owned by institutional investors and hedge funds.

Remove Ads

Insider Transactions at MGM Resorts International

In related news, 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 transaction, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. The trade was 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.

MGM Resorts International Stock Down 1.2 %

Shares of MGM stock traded down $0.39 during trading hours on Tuesday, reaching $32.03. 4,664,395 shares of the stock were exchanged, compared to its average volume of 4,247,651. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.25. The business's fifty day moving average is $34.00 and its two-hundred day moving average is $36.02. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a market capitalization of $9.15 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Macquarie reaffirmed an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $51.29.

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.