Robeco Institutional Asset Management B.V. Lowers Position in MGM Resorts International (NYSE:MGM)

Robeco Institutional Asset Management B.V. cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 85.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,176 shares of the company’s stock after selling 181,643 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in MGM Resorts International were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MGM. Davis Selected Advisers purchased a new position in MGM Resorts International during the 3rd quarter valued at about $361,915,000. Boston Partners boosted its holdings in MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after acquiring an additional 3,723,659 shares during the period. Qube Research & Technologies Ltd boosted its holdings in MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after acquiring an additional 1,686,267 shares during the period. Invesco Ltd. boosted its holdings in MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after acquiring an additional 500,566 shares during the period. Finally, QRG Capital Management Inc. purchased a new position in MGM Resorts International during the 3rd quarter valued at about $13,930,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JMP Securities raised their target price on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Mizuho increased their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $40.20 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The firm has a market capitalization of $12.61 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.90 and a beta of 2.22. The stock’s 50-day simple moving average is $43.12 and its 200-day simple moving average is $42.76.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. As a group, equities research analysts forecast that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the transaction, the director now owns 5,250 shares of the company’s stock, valued at $215,355. The transaction was disclosed in a filing with the SEC, which is available at this link. In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The disclosure for this sale can be found here. Insiders have sold a total of 333,688 shares of company stock valued at $14,300,967 over the last quarter. Company insiders own 2.13% of the company’s stock.

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.