Ilmarinen Mutual Pension Insurance Co Makes New $1.04 Million Investment in MGM Resorts International $MGM

Key Points

• Ilmarinen Mutual Pension Insurance Co acquired 35,000 shares of MGM Resorts International valued at approximately $1,037,000 in the 1st quarter, indicating increasing institutional interest in the company.
• Analysts have mixed opinions on MGM's stock, with price targets ranging from $34.00 to $59.00 and a consensus rating of "Moderate Buy".
• MGM Resorts International reported earnings of $0.79 per share for the last quarter, surpassing analysts' estimates and generating revenue of $4.40 billion.

Ilmarinen Mutual Pension Insurance Co acquired a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,000 shares of the company's stock, valued at approximately $1,037,000.

Several other institutional investors have also recently added to or reduced their stakes in MGM. Helikon Investments Ltd acquired a new position in MGM Resorts International in the first quarter valued at $54,418,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $47,631,000. AQR Capital Management LLC grew its stake in shares of MGM Resorts International by 104.2% in the first quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company's stock valued at $75,962,000 after buying an additional 1,332,313 shares in the last quarter. GMT Capital Corp acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $36,656,000. Finally, Davis Selected Advisers grew its stake in shares of MGM Resorts International by 4.5% in the first quarter. Davis Selected Advisers now owns 20,815,057 shares of the company's stock valued at $616,958,000 after buying an additional 894,344 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares of the company's stock, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction on Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider directly owned 31,521 shares of the company's stock, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MGM. Morgan Stanley increased their target price on MGM Resorts International from $41.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Truist Financial increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. UBS Group reduced their target price on MGM Resorts International from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, September 11th. JMP Securities reaffirmed a "market perform" rating on shares of MGM Resorts International in a report on Thursday, June 26th. Finally, Susquehanna increased their price target on MGM Resorts International from $50.00 to $60.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. One 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 company's stock. According to data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus price target of $48.67.

MGM Resorts International Stock Down 1.1%

Shares of MGM Resorts International stock traded down $0.39 during midday trading on Tuesday, hitting $35.26. The company's stock had a trading volume of 1,680,736 shares, compared to its average volume of 5,224,527. The firm has a market capitalization of $9.60 billion, a P/E ratio of 19.36, a PEG ratio of 1.46 and a beta of 1.69. The stock has a 50-day simple moving average of $37.04 and a 200-day simple moving average of $33.72. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $42.53.

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

About MGM Resorts International

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.