MGM Resorts International (NYSE:MGM) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 5.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,553 shares of the company’s stock after acquiring an additional 333 shares during the quarter. Ballentine Partners LLC’s holdings in MGM Resorts International were worth $227,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Empower Advisory Group LLC lifted its holdings 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 in the last quarter. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% in the third 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 period. Maverick Capital Ltd. acquired a new position in shares of MGM Resorts International during the second quarter worth about $1,211,000. Miracle Mile Advisors LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter worth about $2,010,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MGM shares. Jefferies Financial Group reduced their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Truist Financial decreased 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 report on Tuesday, January 14th. Finally, Barclays dropped their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Performance

MGM stock opened at $32.90 on Friday. The stock’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $37.75. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The firm has a market cap of $9.79 billion, a P/E ratio of 11.75, a P/E/G ratio of 3.06 and a beta of 2.21. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. As a group, equities research analysts predict that MGM Resorts International will post 2.41 EPS for the current year.

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.