MGM Resorts International (NYSE:MGM) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 54.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,849 shares of the company’s stock after acquiring an additional 4,876 shares during the quarter. Sterling Capital Management LLC’s holdings in MGM Resorts International were worth $480,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MGM. Virtu Financial LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at about $641,000. Wilmington Savings Fund Society FSB acquired a new stake in MGM Resorts International during the third quarter worth about $55,000. Tidal Investments LLC raised its position in MGM Resorts International by 269.7% during the third quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock valued at $1,292,000 after acquiring an additional 24,111 shares in the last quarter. Synovus Financial Corp acquired a new position in MGM Resorts International in the third quarter valued at approximately $309,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in MGM Resorts International in the 3rd quarter worth approximately $1,886,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MGM. Jefferies Financial Group cut their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Mizuho raised their target price 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. Finally, Truist Financial reduced their price target 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 research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.71.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction dated 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 acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $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. 3.06% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

NYSE:MGM opened at $28.89 on Friday. The stock has a 50 day moving average price of $32.12 and a 200 day moving average price of $34.93. The stock has a market cap of $8.18 billion, a PE ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS 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%. Equities research analysts expect that MGM Resorts International will post 2.21 EPS 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.