Union Bancaire Privee UBP SA Invests $175,000 in MGM Resorts International (NYSE:MGM)

Union Bancaire Privee UBP SA purchased a new stake in MGM Resorts International (NYSE:MGM) in the 4th quarter, HoldingsChannel reports. The fund purchased 5,086 shares of the company’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the fourth quarter worth $28,000. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 47.8% during the fourth 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. Brooklyn Investment Group purchased a new stake in MGM Resorts International in the 3rd quarter valued at $44,000. Finally, Planning Capital Management Corp bought a new position in MGM Resorts International during the 3rd quarter valued at $45,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM opened at $35.58 on Wednesday. The firm has a 50-day moving average price of $34.56 and a 200-day moving average price of $36.79. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. 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 company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released 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%. Equities analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MGM shares. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. 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 note on Tuesday, January 14th. Capital One Financial boosted their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Citigroup upped their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.