Candriam S.C.A. Invests $677,000 in MGM Resorts International (NYSE:MGM)

Candriam S.C.A. bought a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,536 shares of the company’s stock, valued at approximately $677,000.

A number of other large investors also recently modified their holdings of MGM. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter worth approximately $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $28,000. Assetmark Inc. raised 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 worth $28,000 after buying an additional 411 shares during the last quarter. Global Retirement Partners LLC raised its stake 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 worth $43,000 after buying an additional 404 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the third quarter worth approximately $44,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Morgan Stanley upped their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Down 0.5 %

Shares of MGM stock opened at $31.86 on Tuesday. The firm has a fifty day moving average of $34.40 and a 200-day moving average of $36.48. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $30.69 and a 12-month high of $48.24. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was purchased 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 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. 2.13% of the stock is currently owned by corporate insiders.

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.