Amundi Has $28.15 Million Stock Position in MGM Resorts International $MGM

Amundi grew its holdings in MGM Resorts International (NYSE:MGM) by 125.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 747,294 shares of the company’s stock after acquiring an additional 415,806 shares during the quarter. Amundi owned 0.27% of MGM Resorts International worth $28,151,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. XML Financial LLC grew its holdings in shares of MGM Resorts International by 0.9% during the 2nd quarter. XML Financial LLC now owns 30,884 shares of the company’s stock valued at $1,062,000 after purchasing an additional 287 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in MGM Resorts International by 4.1% in the second quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock valued at $274,000 after buying an additional 315 shares in the last quarter. Quarry LP grew its stake in shares of MGM Resorts International by 24.1% during the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after buying an additional 349 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of MGM Resorts International by 0.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock worth $1,917,000 after buying an additional 399 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after buying an additional 421 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the completion of the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. The trade was a 1.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider owned 31,521 shares in the company, valued at $1,138,538.52. This trade represents a 65.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup cut their price objective on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Macquarie dropped their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 2nd. Truist Financial decreased their price objective on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Zacks Research downgraded shares of MGM Resorts International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 1st. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.42.

MGM Resorts International Trading Up 1.5%

Shares of MGM Resorts International stock opened at $35.87 on Wednesday. The stock has a market capitalization of $9.81 billion, a PE ratio of 224.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.48. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $41.32. The stock has a 50 day moving average price of $33.00 and a two-hundred day moving average price of $34.72. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.19 and a current ratio of 1.23.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 17.23%. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.