Daiwa Securities Group Inc. Acquires 1,503 Shares of MGM Resorts International (NYSE:MGM)

Daiwa Securities Group Inc. raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,969 shares of the company’s stock after purchasing an additional 1,503 shares during the period. Daiwa Securities Group Inc.’s holdings in MGM Resorts International were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International during the third quarter valued at approximately $28,000. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the third quarter valued at approximately $44,000. Finally, Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial raised their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Macquarie reissued an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Citigroup lifted their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating 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 stock. According to MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $51.29.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Stock Up 5.4 %

MGM opened at $31.78 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a fifty-two week low of $29.99 and a fifty-two week high of $48.24. The firm’s fifty day moving average is $34.09 and its 200 day moving average is $36.25. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released 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, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.