MGM Resorts International (NYSE:MGM) Shares Acquired by Czech National Bank

Czech National Bank grew its stake in MGM Resorts International (NYSE:MGM) by 4.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,063 shares of the company’s stock after purchasing an additional 2,043 shares during the period. Czech National Bank’s holdings in MGM Resorts International were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP grew its holdings in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after buying an additional 706,159 shares in the last quarter. Empower Advisory Group LLC boosted its position in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the last quarter. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of MGM Resorts International in the second quarter valued at about $1,211,000. Finally, Zacks Investment Management increased its position in MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after purchasing an additional 29,107 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.4 %

Shares of MGM opened at $33.13 on Friday. The company’s 50-day simple moving average is $35.65 and its 200-day simple moving average is $38.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The stock has a market capitalization of $9.86 billion, a PE ratio of 11.83, a P/E/G ratio of 3.04 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $0.64 earnings per share. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that MGM Resorts International will post 2.43 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MGM. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Barclays decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

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.