MGM Resorts International (NYSE:MGM) Position Raised by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of MGM Resorts International (NYSE:MGM) by 30.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,469 shares of the company’s stock after purchasing an additional 80,026 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.11% of MGM Resorts International worth $16,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in MGM Resorts International during the fourth quarter worth approximately $28,000. Accent Capital Management LLC acquired a new position in MGM Resorts International in the fourth quarter worth approximately $45,000. Mendota Financial Group LLC grew its position in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the last quarter. Sandy Spring Bank grew its position in MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after buying an additional 288 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in MGM Resorts International in the fourth quarter worth approximately $83,000. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock valued at $5,991,759 in the last quarter. Insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JMP Securities lifted their price target on shares of MGM Resorts International from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Mizuho lifted their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, BTIG Research initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.66.

MGM Resorts International Stock Down 0.4 %

Shares of NYSE:MGM traded down $0.19 during trading on Friday, reaching $45.11. 648,510 shares of the company traded hands, compared to its average volume of 3,712,554. The firm has a fifty day simple moving average of $41.79 and a 200 day simple moving average of $42.92. The firm has a market cap of $14.15 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 0.96 and a beta of 2.24. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business earned $0.44 EPS. MGM Resorts International’s quarterly revenue was up 13.2% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 3.01 earnings per share for the current fiscal year.

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.