MGM Resorts International (NYSE:MGM) Shares Bought by Boston Partners

Boston Partners boosted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,427,254 shares of the company's stock after buying an additional 1,446,362 shares during the quarter. Boston Partners owned 1.59% of MGM Resorts International worth $242,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its position in shares of MGM Resorts International by 4.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company's stock valued at $194,190,000 after purchasing an additional 202,434 shares during the last quarter. RB Capital Management LLC increased its position in shares of MGM Resorts International by 6.6% in the 4th quarter. RB Capital Management LLC now owns 17,040 shares of the company's stock valued at $761,000 after purchasing an additional 1,060 shares during the last quarter. Bamco Inc. NY increased its position in shares of MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company's stock valued at $70,302,000 after purchasing an additional 82,134 shares during the last quarter. Black Swift Group LLC increased its position in shares of MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company's stock valued at $3,860,000 after purchasing an additional 60,000 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of MGM Resorts International by 122.0% in the 4th quarter. Allworth Financial LP now owns 6,843 shares of the company's stock valued at $306,000 after purchasing an additional 3,760 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of MGM stock traded up $0.36 during mid-day trading on Monday, hitting $40.93. The stock had a trading volume of 2,694,938 shares, compared to its average volume of 3,881,004. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The firm has a market cap of $12.84 billion, a PE ratio of 15.60, a PEG ratio of 0.89 and a beta of 2.22. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The company's 50-day simple moving average is $43.34 and its 200-day simple moving average is $42.49.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion during the quarter, compared to analysts' expectations of $4.24 billion. During the same quarter last year, the business earned $0.44 EPS. The business's revenue was up 13.2% on a year-over-year basis. Sell-side analysts anticipate that MGM Resorts International will post 2.9 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the firm's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.83% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MGM. JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. StockNews.com downgraded shares of MGM Resorts International from a "buy" rating to a "hold" rating in a research report on Friday. Barclays increased their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Susquehanna raised shares of MGM Resorts International from a "neutral" rating to a "positive" rating and increased their target price for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, Bank Of America (Bofa) increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.83.

MGM Resorts International 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.

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