OLD National Bancorp IN Has $361,000 Stake in MGM Resorts International (NYSE:MGM)

OLD National Bancorp IN grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 36.7% in the 4th quarter, Holdings Channel reports. The fund owned 8,085 shares of the company’s stock after buying an additional 2,169 shares during the period. OLD National Bancorp IN’s holdings in MGM Resorts International were worth $361,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in MGM Resorts International during the fourth quarter worth about $28,000. Sandy Spring Bank increased its stake in shares of MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after buying an additional 500 shares during the period. Park Place Capital Corp increased its stake in shares of MGM Resorts International by 618.1% in the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock valued at $36,000 after buying an additional 853 shares during the period. Sunbelt Securities Inc. increased its stake in shares of MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $42.71 on Thursday. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.76 and a beta of 2.19. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The stock’s 50 day moving average price is $43.76 and its two-hundred day moving average price is $42.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the business earned $0.69 EPS. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.46 earnings per share for the current year.

Insider Buying and Selling

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 transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MGM has been the subject of several recent research reports. Bank Of America (Bofa) upped their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley upped their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Macquarie reissued an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.34.

About MGM Resorts International

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.