Dodge & Cox Buys New Position in MGM Resorts International (NYSE:MGM)

Dodge & Cox bought a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 15,500 shares of the company’s stock, valued at approximately $537,000.

Several other large investors have also recently bought and sold shares of MGM. Charles Schwab Investment Management Inc. increased its holdings in shares of MGM Resorts International by 1.7% during the 4th 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 during the period. Korea Investment CORP raised its holdings in MGM Resorts International by 964.3% in the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock valued at $5,034,000 after acquiring an additional 131,636 shares in the last quarter. ACR Alpine Capital Research LLC raised its holdings in MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after acquiring an additional 30,605 shares in the last quarter. Davis Selected Advisers lifted its position in shares of 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 during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $2,010,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGM. Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Macquarie restated an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International currently 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 bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought 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 of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $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. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Up 0.3 %

Shares of NYSE:MGM opened at $29.71 on Wednesday. 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 $8.41 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company’s 50-day moving average price is $32.46 and its two-hundred day moving average price is $35.12.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 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 forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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.