Allianz SE Purchases Shares of 33,938 MGM Resorts International (NYSE:MGM)

Allianz SE bought a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 33,938 shares of the company’s stock, valued at approximately $1,166,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at approximately $28,000. Assetmark Inc. raised its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% in 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. Modus Advisors LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter worth $46,000. Finally, EverSource Wealth Advisors LLC lifted its position in MGM Resorts International by 74.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock valued at $51,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MGM. Capital One Financial lifted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, February 14th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired 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 directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 4.0 %

Shares of NYSE:MGM opened at $30.35 on Monday. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The business’s 50 day moving average price is $33.90 and its 200-day moving average price is $35.94. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International Company 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.