Norinchukin Bank The Purchases 939 Shares of MGM Resorts International (NYSE:MGM)

Norinchukin Bank The grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,681 shares of the company’s stock after buying an additional 939 shares during the period. Norinchukin Bank The’s holdings in MGM Resorts International were worth $370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Virtu Financial LLC bought a new stake in MGM Resorts International during the third quarter worth about $641,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $55,000. Tidal Investments LLC increased its position in MGM Resorts International by 269.7% during the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock valued at $1,292,000 after buying an additional 24,111 shares in the last quarter. Synovus Financial Corp purchased a new position in MGM Resorts International during the third quarter valued at $309,000. Finally, Oddo BHF Asset Management Sas bought a new stake in MGM Resorts International in the third quarter worth $1,886,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

MGM opened at $30.24 on Wednesday. The company’s 50 day moving average is $31.81 and its 200 day moving average is $34.76. 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 company has a market cap of $8.56 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data 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 return on equity of 21.08% and a net margin of 4.33%. On average, equities research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm’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 sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price target on MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. JMP Securities dropped their target price on shares of MGM Resorts International from $50.00 to $45.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 17th. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Finally, Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.35.

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.