MGM Resorts International $MGM Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its stake in MGM Resorts International (NYSE:MGM) by 299.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,571 shares of the company’s stock after purchasing an additional 70,899 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in MGM Resorts International were worth $3,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 12.0% in the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. lifted its stake in shares of MGM Resorts International by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock valued at $867,805,000 after purchasing an additional 205,127 shares during the period. AQR Capital Management LLC lifted its stake in shares of MGM Resorts International by 202.5% in the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of MGM Resorts International by 3.4% in the third quarter. Invesco Ltd. now owns 5,940,465 shares of the company’s stock valued at $205,897,000 after purchasing an additional 194,114 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MGM. Barclays raised their price objective on shares of MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. The Goldman Sachs Group raised their price objective on shares of MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of MGM Resorts International in a research note on Friday, May 1st. Mizuho reduced their price objective on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.12.

Insider Activity

In other MGM Resorts International news, major shareholder Iac Inc. bought 550,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $37.30 per share, for a total transaction of $20,515,000.00. Following the acquisition, the insider owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. The trade was a 0.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith A. Meister sold 37,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the transaction, the director owned 5,347,978 shares of the company’s stock, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.38% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $38.44 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The firm has a 50-day moving average price of $37.55 and a two-hundred day moving average price of $35.95. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $40.94. The company has a market capitalization of $9.84 billion, a P/E ratio of 53.39 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 1.99 earnings per share for the current fiscal year.

MGM Resorts International Profile

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.