Marshall Wace LLP Purchases 1,090,533 Shares of MGM Resorts International (NYSE:MGM)

Marshall Wace LLP boosted its position in MGM Resorts International (NYSE:MGM) by 50.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,233,718 shares of the company’s stock after acquiring an additional 1,090,533 shares during the period. Marshall Wace LLP’s holdings in MGM Resorts International were worth $112,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGM. Norges Bank bought a new position in MGM Resorts International during the fourth quarter worth about $88,033,000. Invesco Ltd. boosted its stake in MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock worth $200,462,000 after acquiring an additional 1,063,707 shares during the last quarter. Davis Selected Advisers grew its holdings in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Raymond James Financial Inc. bought a new stake in MGM Resorts International in the fourth quarter valued at approximately $20,053,000. Finally, Amundi raised its holdings in MGM Resorts International by 207.5% in the fourth quarter. Amundi now owns 836,144 shares of the company’s stock worth $27,334,000 after purchasing an additional 564,202 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 4.0 %

MGM opened at $28.51 on Thursday. The stock’s fifty day simple moving average is $32.34 and its 200 day simple moving average is $35.07. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The stock has a market cap of $8.07 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on MGM shares. Susquehanna Bancshares raised their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho boosted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.00.

MGM Resorts International 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.