DekaBank Deutsche Girozentrale Buys 399 Shares of MGM Resorts International $MGM

DekaBank Deutsche Girozentrale lifted its stake in shares of MGM Resorts International (NYSE:MGM) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,666 shares of the company’s stock after acquiring an additional 399 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in MGM Resorts International were worth $1,917,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MGM. Golden State Wealth Management LLC boosted its stake in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 455 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in MGM Resorts International in the 1st quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB grew its holdings in MGM Resorts International by 66.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after buying an additional 529 shares during the last quarter. Quarry LP grew its holdings in MGM Resorts International by 24.1% in the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock valued at $53,000 after buying an additional 349 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in MGM Resorts International by 27.5% in the 2nd quarter. UMB Bank n.a. now owns 2,061 shares of the company’s stock valued at $71,000 after buying an additional 445 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $32.83 on Friday. The stock has a 50 day moving average of $35.20 and a two-hundred day moving average of $34.29. 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 has a 12 month low of $25.30 and a 12 month high of $42.53. The company has a market capitalization of $8.93 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.48 and a beta of 1.67.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MGM. Mizuho raised their target price on MGM Resorts International from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Truist Financial lowered their target price on MGM Resorts International from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, October 21st. The Goldman Sachs Group lowered their target price on MGM Resorts International from $37.00 to $34.00 and set a “sell” rating on the stock in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of MGM Resorts International in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.50.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the transaction, the director owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider owned 31,521 shares of the company’s stock, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is owned by company insiders.

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.