Hosking Partners LLP Buys 15,577 Shares of MGM Resorts International (NYSE:MGM)

Hosking Partners LLP boosted its stake in shares of MGM Resorts International (NYSE:MGM) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 849,534 shares of the company’s stock after purchasing an additional 15,577 shares during the period. Hosking Partners LLP’s holdings in MGM Resorts International were worth $29,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Empower Advisory Group LLC raised its stake in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP increased its position in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in MGM Resorts International in the fourth quarter valued at about $2,010,000. Assenagon Asset Management S.A. boosted its position in MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after purchasing an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management grew its stake in shares of MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after purchasing an additional 29,107 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of research reports. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Friday, February 14th. Capital One Financial increased their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Macquarie reissued an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Transactions at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $34.66 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The business has a 50 day simple moving average of $34.61 and a two-hundred day simple moving average of $36.77. The stock has a market capitalization of $9.90 billion, a PE ratio of 14.44, a P/E/G ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating 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%. On average, research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

About MGM Resorts International

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.