Xponance Inc. Has $1.53 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Xponance Inc. decreased its position in shares of MGM Resorts International (NYSE:MGM) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,223 shares of the company’s stock after selling 5,040 shares during the quarter. Xponance Inc.’s holdings in MGM Resorts International were worth $1,529,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Davis Selected Advisers bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $361,915,000. Boston Partners raised its position in shares of MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after acquiring an additional 3,723,659 shares during the last quarter. Invesco Ltd. raised its position in shares of MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after acquiring an additional 500,566 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of MGM Resorts International by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock valued at $92,923,000 after buying an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after buying an additional 1,686,267 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

MGM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and set a $57.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.34.

MGM Resorts International Stock Up 1.0 %

Shares of MGM opened at $42.85 on Wednesday. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The firm’s 50 day moving average is $43.81 and its 200-day moving average is $42.05. The stock has a market capitalization of $13.58 billion, a PE ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 2.19. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.46 EPS for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

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.