Invesco Ltd. Acquires 1,063,707 Shares of MGM Resorts International (NYSE:MGM)

Invesco Ltd. lifted its stake in MGM Resorts International (NYSE:MGM) by 22.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,785,343 shares of the company’s stock after purchasing an additional 1,063,707 shares during the period. Invesco Ltd. owned about 1.94% of MGM Resorts International worth $200,462,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MGM. Davis Selected Advisers grew its stake in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after acquiring an additional 882,417 shares in the last quarter. Norges Bank purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at approximately $88,033,000. Charles Schwab Investment Management Inc. grew its stake in MGM Resorts International by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after purchasing an additional 38,749 shares in the last quarter. Wells Fargo & Company MN increased its holdings in MGM Resorts International by 11.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,910,828 shares of the company’s stock worth $66,210,000 after purchasing an additional 198,449 shares during the period. Finally, Bank of New York Mellon Corp raised its position in MGM Resorts International by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock valued at $45,876,000 after purchasing an additional 42,256 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 2.2 %

MGM Resorts International stock opened at $29.39 on Friday. The business’s 50-day moving average price is $32.64 and its 200 day moving average price is $35.25. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MGM shares. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Susquehanna Bancshares raised their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company upped their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

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.