MGM Resorts International (NYSE:MGM) Shares Purchased by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC grew its stake in shares of MGM Resorts International (NYSE:MGM) by 10.8% during the 4th quarter, Holdings Channel reports. The firm owned 520,334 shares of the company’s stock after buying an additional 50,782 shares during the period. MGM Resorts International comprises about 6.0% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 5th biggest position. American Assets Capital Advisers LLC’s holdings in MGM Resorts International were worth $18,030,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MGM. Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after buying an additional 882,417 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP increased its stake 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 worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $97,725,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 purchasing an additional 123,124 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MGM shares. Morgan Stanley boosted their price target on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Macquarie restated 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 reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Truist Financial dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $31.78 on Friday. The business has a fifty day moving average price of $34.09 and a two-hundred day moving average price of $36.25. The stock has a market capitalization of $9.07 billion, a PE ratio of 13.24, a P/E/G ratio of 0.98 and a beta of 2.18. 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 fifty-two week low of $29.99 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the business’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 transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by insiders.

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.