Banco Bilbao Vizcaya Argentaria S.A. Has $647,000 Stock Holdings in MGM Resorts International $MGM

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. significantly increased its stake in MGM Resorts International by 125.9%, acquiring a total of 21,752 shares valued at approximately $647,000.
• MGM Resorts reported earnings per share of $0.79 for the last quarter, exceeding analysts' expectations by $0.21, and showing a revenue of $4.40 billion.
• The company has approved a stock repurchase plan to buy back up to $2.00 billion of its shares, indicating that management believes its stock is undervalued.

Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 125.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,752 shares of the company's stock after buying an additional 12,124 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in MGM Resorts International were worth $647,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MGM. Eminence Capital LP acquired a new stake in MGM Resorts International during the fourth quarter worth about $72,408,000. Helikon Investments Ltd acquired a new stake in MGM Resorts International during the first quarter worth about $54,418,000. Fuller & Thaler Asset Management Inc. bought a new position in MGM Resorts International during the first quarter worth about $47,631,000. AQR Capital Management LLC lifted its stake in MGM Resorts International by 12,726.8% during the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company's stock worth $44,316,000 after purchasing an additional 1,268,994 shares during the period. Finally, Davis Selected Advisers lifted its stake in MGM Resorts International by 4.5% during the first quarter. Davis Selected Advisers now owns 20,815,057 shares of the company's stock worth $616,958,000 after purchasing an additional 894,344 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $0.20 during trading on Friday, reaching $39.39. The stock had a trading volume of 415,791 shares, compared to its average volume of 5,266,380. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The stock has a market capitalization of $10.72 billion, a PE ratio of 21.63, a P/E/G ratio of 1.88 and a beta of 1.81. The business's 50-day moving average price is $36.65 and its 200 day moving average price is $33.75. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $42.53.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.21. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. MGM Resorts International's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. As a group, equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MGM shares. Macquarie cut their price target on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. UBS Group raised their price target on shares of MGM Resorts International from $42.00 to $44.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, The Goldman Sachs Group started coverage on shares of MGM Resorts International in a research note on Monday, July 7th. They set a "sell" rating and a $34.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $48.83.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 60,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $32.09, for a total value of $1,925,400.00. Following the completion of the sale, the director owned 5,627,478 shares of the company's stock, valued at $180,585,769.02. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.06% of the stock is currently owned by corporate insiders.

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.