Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in MGM Resorts International (NYSE:MGM)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of MGM Resorts International (NYSE:MGMFree Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 266,443 shares of the company’s stock after buying an additional 5,412 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in MGM Resorts International were worth $11,790,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Davis Selected Advisers acquired a new stake in MGM Resorts International during the 3rd quarter valued at $361,915,000. Boston Partners boosted its holdings in shares of MGM Resorts International by 36.3% during the fourth quarter. Boston Partners now owns 5,427,254 shares of the company’s stock worth $242,002,000 after purchasing an additional 1,446,362 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of MGM Resorts International by 4.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock worth $194,190,000 after purchasing an additional 202,434 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of MGM Resorts International by 14.6% during the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after purchasing an additional 500,566 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of MGM Resorts International by 4.4% during the third quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after purchasing an additional 106,158 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.5 %

Shares of NYSE MGM opened at $41.03 on Friday. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 0.91 and a beta of 2.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. The stock’s 50-day simple moving average is $43.24 and its 200-day simple moving average is $42.67.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, equities analysts anticipate that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MGM has been the topic of several analyst reports. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Macquarie restated an “outperform” rating and set a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. JMP Securities raised their price objective on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday, May 6th. Mizuho lifted their target price on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their target price on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $54.83.

Read Our Latest Research Report on MGM

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this link. 2.13% of the stock is owned by corporate insiders.

About MGM Resorts International

(Free Report)

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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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