MGM Resorts International (NYSE:MGM) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its position in MGM Resorts International (NYSE:MGMFree Report) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,968 shares of the company’s stock after selling 52,390 shares during the period. Allianz Asset Management GmbH’s holdings in MGM Resorts International were worth $4,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in MGM Resorts International during the fourth quarter worth $28,000. Sunbelt Securities Inc. raised its position in MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV raised its position in MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the period. Sandy Spring Bank raised its position in MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after acquiring an additional 288 shares during the period. Finally, Huntington National Bank raised its position in MGM Resorts International by 46.7% during the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock worth $73,000 after acquiring an additional 636 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares in the company, valued at $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares in the company, valued at $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 333,688 shares of company stock worth $14,300,967. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Up 2.4 %

Shares of MGM opened at $40.38 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. The stock has a market capitalization of $12.66 billion, a PE ratio of 15.53, a P/E/G ratio of 0.86 and a beta of 2.24. The company’s 50-day simple moving average is $42.22 and its 200-day simple moving average is $42.80. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. Analysts forecast that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Barclays upped their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, JMP Securities upped their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

Get Our Latest Stock Analysis on MGM Resorts International

About MGM Resorts International

(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.

See Also

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

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