By otakuyassine3@gmail.com 
Dale Q Rice Investment Management Ltd purchased a new position in shares of MGM Resorts International (NYSE:MGM – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,428 shares of the company’s stock, valued at approximately $535,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MGM. Marshall Wace LLP increased its position in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. Empower Advisory Group LLC grew its stake in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the last quarter. Goldentree Asset Management LP increased its holdings in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the period. Maverick Capital Ltd. bought a new position in MGM Resorts International during the 2nd quarter worth $1,211,000. Finally, Zacks Investment Management lifted its holdings in MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.
Insiders Place Their Bets
In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.13% of the company’s stock.
Wall Street Analyst Weigh In
MGM has been the subject of several recent research reports. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Truist Financial lowered their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Barclays dropped their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Mizuho decreased their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.36.
Get Our Latest Stock Report on MGM Resorts International
MGM Resorts International Stock Up 1.3 %
MGM stock opened at $32.29 on Tuesday. The stock’s 50 day simple moving average is $35.97 and its 200 day simple moving average is $38.44. The company has a market cap of $9.61 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 3.10 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24.
MGM Resorts International (NYSE:MGM – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company earned $0.64 earnings per share. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 2.48 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.
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