Hosking Partners LLP Buys 15,577 Shares of MGM Resorts International (NYSE:MGM)

Hosking Partners LLP grew its stake in shares of MGM Resorts International (NYSE:MGM) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849,534 shares of the company’s stock after buying an additional 15,577 shares during the quarter. Hosking Partners LLP owned 0.29% of MGM Resorts International worth $29,436,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in MGM Resorts International by 120.6% during the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after purchasing an additional 737 shares during the last quarter. International Assets Investment Management LLC boosted its stake in MGM Resorts International by 6,902.6% in the third quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock worth $1,705,000 after buying an additional 43,003 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in MGM Resorts International by 50.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,037 shares of the company’s stock valued at $715,000 after acquiring an additional 6,085 shares during the last quarter. Forsta AP Fonden raised its stake in shares of MGM Resorts International by 31.1% during the third quarter. Forsta AP Fonden now owns 48,900 shares of the company’s stock worth $1,912,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of MGM Resorts International by 7.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 119,144 shares of the company’s stock worth $4,657,000 after acquiring an additional 7,902 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Stock Down 1.4 %

NYSE:MGM opened at $34.66 on Friday. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a market capitalization of $9.90 billion, a PE ratio of 14.44, a P/E/G ratio of 0.98 and a beta of 2.20. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $36.77. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MGM shares. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.29.

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.