MGM Resorts International $MGM Shares Bought by Savant Capital LLC

Savant Capital LLC increased its stake in MGM Resorts International (NYSE:MGMFree Report) by 100.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,892 shares of the company’s stock after acquiring an additional 31,446 shares during the period. Savant Capital LLC’s holdings in MGM Resorts International were worth $2,180,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 14.4% in the second quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock worth $819,208,000 after buying an additional 3,006,052 shares during the last quarter. Helikon Investments Ltd lifted its stake in MGM Resorts International by 379.9% during the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock worth $302,987,000 after purchasing an additional 6,974,347 shares during the period. Goldentree Asset Management LP lifted its position in shares of MGM Resorts International by 20.7% during the 2nd quarter. Goldentree Asset Management LP now owns 5,402,092 shares of the company’s stock worth $185,778,000 after buying an additional 924,810 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of MGM Resorts International by 119.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,212,114 shares of the company’s stock valued at $144,855,000 after purchasing an additional 2,293,797 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in MGM Resorts International by 6.9% during the 2nd quarter. AQR Capital Management LLC now owns 2,792,225 shares of the company’s stock valued at $96,025,000 after purchasing an additional 180,947 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MGM has been the topic of several research analyst reports. Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Citigroup upped their price objective on MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday, December 29th. Finally, Argus decreased their price target on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.82.

View Our Latest Analysis on MGM

Insider Buying and Selling at MGM Resorts International

In other news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was acquired at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the completion of the acquisition, the insider owned 65,822,350 shares in the company, valued at $2,389,351,305. This represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.06% of the stock is owned by corporate insiders.

Key Headlines Impacting MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

MGM Resorts International Stock Up 3.3%

Shares of MGM stock opened at $37.49 on Monday. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $35.62 and a 200-day moving average of $34.98. The company has a market capitalization of $10.25 billion, a price-to-earnings ratio of 49.99 and a beta of 1.44.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its earnings results on Thursday, February 5th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same period in the prior year, the business earned $0.45 EPS. As a group, equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

(Free Report)

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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