OLD National Bancorp IN Has $361,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

OLD National Bancorp IN raised its stake in MGM Resorts International (NYSE:MGM) by 36.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,085 shares of the company’s stock after buying an additional 2,169 shares during the quarter. OLD National Bancorp IN’s holdings in MGM Resorts International were worth $361,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its stake in MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after buying an additional 82,134 shares during the period. Black Swift Group LLC increased its stake in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after buying an additional 60,000 shares during the period. Allworth Financial LP increased its stake in MGM Resorts International by 122.0% in the 4th quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock valued at $306,000 after buying an additional 3,760 shares during the period. Boston Partners increased its stake in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in shares of MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after purchasing an additional 1,686,267 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MGM shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho started coverage on shares of MGM Resorts International in a research note on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target on the stock. Macquarie restated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, JMP Securities restated a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $55.34.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $42.71 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The firm has a fifty day moving average price of $43.76 and a two-hundred day moving average price of $42.09. The company has a market cap of $13.54 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue was up 21.8% on a year-over-year basis. Analysts expect that MGM Resorts International will post 2.46 EPS 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.