Assenagon Asset Management S.A. Increases Stock Holdings in MGM Resorts International (NYSE:MGM)

Assenagon Asset Management S.A. boosted its position in shares of MGM Resorts International (NYSE:MGMFree Report) by 30.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,163 shares of the company’s stock after acquiring an additional 20,583 shares during the quarter. Assenagon Asset Management S.A.’s holdings in MGM Resorts International were worth $3,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in MGM Resorts International by 1.3% during the 2nd quarter. BlackRock Inc. now owns 22,227,721 shares of the company’s stock valued at $976,241,000 after acquiring an additional 290,839 shares during the period. Bamco Inc. NY raised its position in MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after purchasing an additional 82,134 shares in the last quarter. Black Swift Group LLC raised its position in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after purchasing an additional 60,000 shares in the last quarter. Boston Partners raised its position in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of analyst reports. Mizuho initiated coverage on MGM Resorts International in a research report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $55.00 price target on shares of MGM Resorts International in a research report on Tuesday, December 5th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.28.

Get Our Latest Stock Report on MGM Resorts International

MGM Resorts International Trading Up 1.2 %

MGM opened at $47.78 on Tuesday. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.56 and a beta of 2.18. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The business’s 50 day moving average is $43.88 and its two-hundred day moving average is $41.30. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, research analysts predict that MGM Resorts International will post 2.53 EPS for the current year.

MGM Resorts International Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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