Union Bancaire Privee UBP SA Buys New Stake in MGM Resorts International (NYSE:MGM)

Union Bancaire Privee UBP SA purchased a new stake in MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,086 shares of the company’s stock, valued at approximately $175,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International during the third quarter worth $35,000. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the third quarter valued at $44,000. Finally, Planning Capital Management Corp acquired a new stake in MGM Resorts International during the 3rd quarter valued at $45,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $34.02 on Thursday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a fifty day moving average price of $34.93 and a 200 day moving average price of $37.50. The company has a market cap of $10.13 billion, a P/E ratio of 12.15, a PEG ratio of 3.06 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts forecast that MGM Resorts International will post 2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MGM shares. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Truist Financial lowered their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays cut their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Jefferies Financial Group cut their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

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.