Robeco Institutional Asset Management B.V. Acquires 33,403 Shares of MGM Resorts International (NYSE:MGM)

Robeco Institutional Asset Management B.V. raised its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 52.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,625 shares of the company's stock after purchasing an additional 33,403 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in MGM Resorts International were worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Davis Selected Advisers lifted its position in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Invesco Ltd. lifted its position in MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the period. Marshall Wace LLP lifted its position in MGM Resorts International by 50.9% during the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after purchasing an additional 1,090,533 shares during the period. Norges Bank acquired a new position in MGM Resorts International during the 4th quarter valued at about $88,033,000. Finally, Southeastern Asset Management Inc. TN lifted its position in MGM Resorts International by 9.6% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,409,147 shares of the company's stock valued at $83,477,000 after purchasing an additional 211,245 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGM has been the topic of a number of research reports. Wall Street Zen upgraded shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. initiated coverage on shares of MGM Resorts International in a research report on Monday, June 23rd. They set a "neutral" rating and a $38.00 target price on the stock. Truist Financial cut their target price on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Macquarie cut their price target on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley cut their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $48.06.

Insider Transactions at MGM Resorts International

In other news, Director Daniel J. Taylor sold 5,261 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 60,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the transaction, the director directly owned 5,627,478 shares of the company's stock, valued at $180,585,769.02. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock valued at $3,486,367 in the last ninety days. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Down 0.6%

MGM stock traded down $0.23 during mid-day trading on Friday, hitting $37.45. 2,311,196 shares of the company were exchanged, compared to its average volume of 4,944,924. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.26 and a current ratio of 1.31. The firm has a market cap of $10.19 billion, a P/E ratio of 16.72, a P/E/G ratio of 2.59 and a beta of 1.76. The firm's 50 day simple moving average is $33.11 and its 200 day simple moving average is $32.86. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.29 billion. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. On average, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International declared that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 22.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.