Eagle Asset Management Inc. increased its stake in MGM Resorts International (NYSE:MGM) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,648,326 shares of the company’s stock after buying an additional 148,868 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.29% of MGM Resorts International worth $55,274,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spirit of America Management Corp NY acquired a new stake in MGM Resorts International during the 3rd quarter valued at $104,000. Sun Life Financial INC acquired a new stake in MGM Resorts International during the 3rd quarter valued at $124,000. Cerebellum GP LLC acquired a new stake in MGM Resorts International during the 4th quarter valued at $126,000. Northwestern Mutual Wealth Management Co. lifted its holdings in MGM Resorts International by 88.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in MGM Resorts International by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after purchasing an additional 624 shares during the last quarter. 81.54% of the stock is owned by institutional investors.
MGM Resorts International (NYSE:MGM) opened at $34.47 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $19,510.00, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 6.05 and a beta of 1.43. MGM Resorts International has a 12-month low of $25.15 and a 12-month high of $38.41.
Several equities research analysts have issued reports on MGM shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $41.00) on shares of MGM Resorts International in a report on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $36.00 price target (up previously from $33.00) on shares of MGM Resorts International in a report on Thursday, November 9th. Jefferies Group started coverage on MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 price target for the company. Zacks Investment Research raised MGM Resorts International from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Nomura cut their price target on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $37.38.
In other MGM Resorts International news, insider Phyllis James sold 19,149 shares of the stock in a transaction 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 transaction, the insider now owns 8,961 shares in the company, valued at approximately $301,448.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sean Charland acquired 25,000 shares of the stock in a transaction on Wednesday, December 6th. The shares were purchased at an average price of $22.50 per share, for a total transaction of $562,500.00. Insiders have acquired a total of 80,000 shares of company stock worth $577,000 in the last quarter. Company insiders own 12.20% of the company’s stock.
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About MGM Resorts International
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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