MGM Resorts International (NYSE:MGM) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in MGM Resorts International (NYSE:MGM) by 168.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 406,334 shares of the company’s stock after purchasing an additional 255,072 shares during the period. Russell Investments Group Ltd.’s holdings in MGM Resorts International were worth $14,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Global Trust Asset Management LLC purchased a new position in MGM Resorts International during the fourth quarter worth about $28,000. Assetmark Inc. raised its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares during the period. Global Retirement Partners LLC grew its position in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares during the period. Modus Advisors LLC purchased a new position in MGM Resorts International in the fourth quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC raised its position in MGM Resorts International by 74.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock valued at $51,000 after purchasing an additional 633 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the topic of several research analyst reports. Truist Financial reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Leerink Partners cut MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Stock Down 4.0 %

Shares of MGM Resorts International stock opened at $28.74 on Friday. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a 50 day moving average of $32.75 and a 200 day moving average of $35.30. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $8.13 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.83% of the company’s stock.

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.