KBC Group NV Raises Stock Holdings in MGM Resorts International (NYSE:MGM)

KBC Group NV raised its stake in MGM Resorts International (NYSE:MGM) by 3,041.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,047 shares of the company’s stock after purchasing an additional 375,693 shares during the period. KBC Group NV’s holdings in MGM Resorts International were worth $13,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MGM. HG Vora Capital Management LLC purchased a new stake in MGM Resorts International during the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP lifted its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International in the 3rd quarter worth $17,622,000. ArrowMark Colorado Holdings LLC grew its stake in MGM Resorts International by 207.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after buying an additional 442,975 shares during the last quarter. Finally, American Assets Capital Advisers LLC increased its position in MGM Resorts International by 135.0% during the 3rd quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company’s stock valued at $18,355,000 after buying an additional 269,761 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Price Performance

NYSE:MGM opened at $34.02 on Thursday. 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 company has a 50 day moving average price of $34.93 and a 200-day moving average price of $37.50. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on MGM shares. Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Jefferies Financial Group decreased their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Truist Financial reduced their target price 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. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.93.

Insider Buying and Selling

In related 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by insiders.

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.