American Assets Capital Advisers LLC Boosts Stock Holdings in MGM Resorts International (NYSE:MGM)

American Assets Capital Advisers LLC grew its stake in MGM Resorts International (NYSE:MGM) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 520,334 shares of the company’s stock after buying an additional 50,782 shares during the period. MGM Resorts International makes up approximately 6.0% of American Assets Capital Advisers LLC’s holdings, making the stock its 5th biggest position. American Assets Capital Advisers LLC owned about 0.17% of MGM Resorts International worth $18,030,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MGM. Davis Selected Advisers lifted its position in MGM Resorts International by 4.6% during 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 last quarter. Fisher Asset Management LLC increased its stake in shares of MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP lifted its position in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC bought a new stake in MGM Resorts International during the 3rd quarter valued at approximately $97,725,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in MGM Resorts International by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after buying an additional 123,124 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGM. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Finally, Susquehanna Bancshares lifted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Buying and Selling

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred 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 in the company, 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. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

MGM stock opened at $31.78 on Friday. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a market cap of $9.07 billion, a PE ratio of 13.24, a P/E/G ratio of 0.98 and a beta of 2.18. The business’s 50-day moving average price is $34.09 and its two-hundred day moving average price is $36.25.

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