MGM Resorts International (NYSE:MGM) Stock Holdings Lessened by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its stake in MGM Resorts International (NYSE:MGM) by 39.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,130 shares of the company’s stock after selling 6,510 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in MGM Resorts International were worth $453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in MGM Resorts International by 4.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock valued at $194,190,000 after purchasing an additional 202,434 shares during the last quarter. RB Capital Management LLC grew its holdings in MGM Resorts International by 6.6% during the fourth quarter. RB Capital Management LLC now owns 17,040 shares of the company’s stock valued at $761,000 after purchasing an additional 1,060 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $2,012,000. Bamco Inc. NY grew its holdings in MGM Resorts International by 4.5% during the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after purchasing an additional 82,134 shares during the last quarter. Finally, Black Swift Group LLC grew its holdings in MGM Resorts International by 133.3% during the third quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after purchasing an additional 60,000 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $38.93 on Friday. The stock has a market capitalization of $12.21 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.89 and a beta of 2.22. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The business has a 50-day moving average price of $43.04 and a two-hundred day moving average price of $42.73. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during 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 company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. Equities analysts predict that MGM Resorts International will post 2.9 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, Director Daniel J. Taylor sold 4,344 shares of the company’s 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 sale, the director now owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Taylor sold 4,344 shares of the stock in a transaction 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 owns 5,250 shares in the company, valued at approximately $215,355. The disclosure for this sale can be found here. In the last three months, insiders sold 333,688 shares of company stock worth $14,300,967. 2.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Mizuho raised their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. JMP Securities raised their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

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.