NEOS Investment Management LLC Raises Stock Holdings in MGM Resorts International (NYSE:MGM)

NEOS Investment Management LLC boosted its position in MGM Resorts International (NYSE:MGM) by 29.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,232 shares of the company’s stock after acquiring an additional 3,732 shares during the period. NEOS Investment Management LLC’s holdings in MGM Resorts International were worth $562,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International during the third quarter worth about $97,725,000. Davis Selected Advisers raised its position in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $20,053,000. Amundi grew its position in shares of MGM Resorts International by 207.5% in the 4th quarter. Amundi now owns 836,144 shares of the company’s stock worth $27,334,000 after buying an additional 564,202 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of MGM Resorts International during the third quarter valued at approximately $17,622,000. Institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Susquehanna Bancshares lifted their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, February 14th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Trading Down 4.0 %

MGM Resorts International stock opened at $30.35 on Monday. MGM Resorts International has a 12 month low of $29.99 and a 12 month high of $48.25. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The business’s fifty day simple moving average is $33.90 and its two-hundred day simple moving average is $35.94. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that MGM Resorts International will post 2.21 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.