Cookson Peirce & Co. Inc. Purchases 7,200 Shares of MGM Resorts International (NYSE:MGM)

Cookson Peirce & Co. Inc. boosted its position in MGM Resorts International (NYSE:MGM) by 40.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,202 shares of the company’s stock after buying an additional 7,200 shares during the period. Cookson Peirce & Co. Inc.’s holdings in MGM Resorts International were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth $97,725,000. Goldentree Asset Management LP raised its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth $17,622,000. ArrowMark Colorado Holdings LLC grew its position in MGM Resorts International by 207.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after acquiring an additional 442,975 shares during the last quarter. Finally, KBC Group NV grew its position in MGM Resorts International by 3,041.1% during the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after acquiring an additional 375,693 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MGM. Citigroup boosted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Truist Financial reduced their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.29.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $32.84 on Thursday. The stock’s 50 day simple moving average is $34.56 and its two-hundred day simple moving average is $36.64. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a fifty-two week low of $31.60 and a fifty-two week high of $48.24.

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

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.