Royal London Asset Management Ltd. Boosts Stake in MGM Resorts International (NYSE:MGM)

Royal London Asset Management Ltd. raised its position in shares of MGM Resorts International (NYSE:MGM) by 19.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,666 shares of the company’s stock after buying an additional 18,419 shares during the quarter. Royal London Asset Management Ltd.’s holdings in MGM Resorts International were worth $3,973,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at $28,000. Assetmark Inc. grew its stake in shares of 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 buying an additional 411 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $44,000. Finally, Modus Advisors LLC bought a new position in shares of MGM Resorts International in the 4th quarter valued at about $46,000. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at $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. 2.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on MGM shares. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company increased their price target on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, February 14th. Finally, Capital One Financial lifted their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Stock Up 3.3 %

NYSE:MGM opened at $32.45 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a market cap of $9.27 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a 50-day moving average of $34.02 and a 200 day moving average of $36.04. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal 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.