MGM Resorts International (NYSE:MGM) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in MGM Resorts International (NYSE:MGM) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,036 shares of the company’s stock after acquiring an additional 480 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MGM Resorts International were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of MGM Resorts International by 5,605.2% in the fourth quarter. International Assets Investment Management LLC now owns 44,101 shares of the company’s stock worth $1,970,000 after acquiring an additional 43,328 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of MGM Resorts International by 20.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 22,736 shares of the company’s stock worth $1,016,000 after purchasing an additional 3,805 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter worth about $205,000. Essex Financial Services Inc. acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at about $220,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of MGM Resorts International by 4.5% in the fourth quarter. First Trust Direct Indexing L.P. now owns 11,874 shares of the company’s stock valued at $531,000 after buying an additional 514 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other MGM Resorts International news, CEO William Hornbuckle purchased 58,900 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO William Hornbuckle bought 58,900 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Salem acquired 147,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the acquisition, the director now owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The disclosure for this purchase can be found here. Insiders acquired 216,400 shares of company stock valued at $7,312,197 in the last three months. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGM. Morgan Stanley decreased their target price on shares of MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Susquehanna raised their target price on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

MGM Resorts International Trading Up 0.5 %

NYSE MGM opened at $37.59 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The company has a 50-day simple moving average of $41.08 and a 200-day simple moving average of $41.85. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The firm has a market capitalization of $11.42 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.66 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that MGM Resorts International will post 2.75 earnings per share for the current 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.