Banco Bilbao Vizcaya Argentaria S.A. Has $647,000 Position in MGM Resorts International $MGM

Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in MGM Resorts International (NYSE:MGM) by 125.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,752 shares of the company’s stock after buying an additional 12,124 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in MGM Resorts International were worth $647,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. acquired a new position in MGM Resorts International in the first quarter worth about $47,631,000. Summit Securities Group LLC acquired a new position in shares of MGM Resorts International in the 1st quarter worth approximately $136,000. Raymond James Financial Inc. lifted its position in shares of MGM Resorts International by 26.9% during the 1st quarter. Raymond James Financial Inc. now owns 734,445 shares of the company’s stock worth $21,769,000 after buying an additional 155,709 shares during the period. RMR Capital Management LLC acquired a new stake in MGM Resorts International in the 1st quarter valued at $258,000. Finally, Brandywine Global Investment Management LLC boosted its stake in MGM Resorts International by 22.8% in the 1st quarter. Brandywine Global Investment Management LLC now owns 571,049 shares of the company’s stock valued at $16,926,000 after buying an additional 105,891 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MGM shares. Mizuho cut their price objective on MGM Resorts International from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Truist Financial lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Susquehanna upped their price objective on shares of MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group began coverage on shares of MGM Resorts International in a report on Monday, July 7th. They set a “sell” rating and a $34.00 price objective for the company. Finally, Morgan Stanley boosted their target price on MGM Resorts International from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.72.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 60,000 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the completion of the sale, the director owned 5,627,478 shares in the company, valued at $180,585,769.02. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.06% of the stock is currently owned by insiders.

MGM Resorts International Trading Up 4.9%

Shares of NYSE MGM opened at $37.9950 on Friday. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $42.53. The company has a 50-day moving average of $36.24 and a two-hundred day moving average of $33.62. The company has a market cap of $10.34 billion, a PE ratio of 20.88, a P/E/G ratio of 1.80 and a beta of 1.81. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.21. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the business posted $0.86 earnings per share. MGM Resorts International’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.