MGM Resorts International (NYSE:MGM) Shares Bought by Ossiam

Ossiam lifted its stake in shares of MGM Resorts International (NYSE:MGM) by 29.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,338 shares of the company’s stock after acquiring an additional 9,268 shares during the period. Ossiam’s holdings in MGM Resorts International were worth $1,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MGM. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at approximately $1,068,000. First Trust Advisors LP increased its stake in MGM Resorts International by 1.3% during the fourth quarter. First Trust Advisors LP now owns 288,252 shares of the company’s stock worth $9,988,000 after acquiring an additional 3,687 shares during the last quarter. Freedom Investment Management Inc. raised its position in MGM Resorts International by 11.3% in the fourth quarter. Freedom Investment Management Inc. now owns 8,893 shares of the company’s stock valued at $308,000 after purchasing an additional 905 shares during the period. GeoWealth Management LLC grew its holdings in shares of MGM Resorts International by 147.3% during the 4th quarter. GeoWealth Management LLC now owns 5,984 shares of the company’s stock worth $207,000 after purchasing an additional 3,564 shares during the period. Finally, Farringdon Capital Ltd. purchased a new stake in MGM Resorts International in the 4th quarter valued at about $691,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $28.89 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26. The firm’s 50 day moving average is $32.12 and its two-hundred day moving average is $34.87. The firm has a market capitalization of $8.18 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96.

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

Analysts Set New Price Targets

MGM has been the topic of a number of research analyst reports. Truist Financial reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares increased their target price on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.71.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction 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 approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

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.