BI Asset Management Fondsmaeglerselskab A S Takes $1.07 Million Position in MGM Resorts International (NYSE:MGM)

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,824 shares of the company's stock, valued at approximately $1,068,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the fourth quarter worth about $28,000. Assetmark Inc. boosted its stake in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC raised its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the period. Modus Advisors LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock valued at $51,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Buying and Selling

In related news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Argus raised shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Friday, February 14th. Truist Financial decreased their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Susquehanna Bancshares increased their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.06.

MGM Resorts International Trading Up 2.1 %

Shares of MGM traded up $0.66 on Monday, reaching $32.33. 1,822,340 shares of the company's stock were exchanged, compared to its average volume of 4,663,038. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The stock has a market capitalization of $9.15 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50 day moving average price of $31.33 and a two-hundred day moving average price of $34.53.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Company 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.