American Assets Capital Advisers LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 64.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 570,704 shares of the company’s stock after buying an additional 224,000 shares during the period. MGM Resorts International accounts for approximately 4.8% of American Assets Capital Advisers LLC’s portfolio, making the stock its 9th largest position. American Assets Capital Advisers LLC owned 0.10% of MGM Resorts International worth $19,055,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in MGM Resorts International by 1.9% in the second quarter. Capital Research Global Investors now owns 32,282,000 shares of the company’s stock worth $1,010,104,000 after buying an additional 600,000 shares during the period. Canyon Capital Advisors LLC increased its stake in shares of MGM Resorts International by 8.9% during the second quarter. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company’s stock valued at $607,099,000 after purchasing an additional 1,583,585 shares in the last quarter. State Street Corp increased its stake in shares of MGM Resorts International by 1.0% during the second quarter. State Street Corp now owns 8,934,495 shares of the company’s stock valued at $279,564,000 after purchasing an additional 92,329 shares in the last quarter. PointState Capital LP bought a new position in shares of MGM Resorts International during the second quarter valued at approximately $239,347,000. Finally, FMR LLC increased its stake in shares of MGM Resorts International by 66.7% during the second quarter. FMR LLC now owns 7,242,214 shares of the company’s stock valued at $226,609,000 after purchasing an additional 2,897,242 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
MGM has been the subject of a number of analyst reports. Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Roth Capital initiated coverage on shares of MGM Resorts International in a research note on Wednesday, October 25th. They set a “buy” rating and a $38.00 target price for the company. Zacks Investment Research downgraded shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Jefferies Group initiated coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $44.00 target price (up previously from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $37.38.
In related news, Director Sean Charland bought 25,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $22.50 per share, with a total value of $562,500.00. Also, insider Phyllis James sold 19,149 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total transaction of $644,172.36. Following the completion of the sale, the insider now directly owns 8,961 shares of the company’s stock, valued at approximately $301,448.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,877 shares of company stock valued at $2,853,502. 12.20% of the stock is currently owned by insiders.
Shares of MGM Resorts International (NYSE:MGM) traded down $0.11 on Tuesday, hitting $33.09. 1,053,577 shares of the company traded hands, compared to its average volume of 8,285,013. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26. MGM Resorts International has a 12 month low of $25.15 and a 12 month high of $38.41. The company has a market capitalization of $18,800.00, a P/E ratio of 32.55, a P/E/G ratio of 5.88 and a beta of 1.43.
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MGM Resorts International Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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