UniSuper Management Pty Ltd Has $1.69 Million Stock Position in MGM Resorts International (NYSE:MGM)

UniSuper Management Pty Ltd boosted its stake in MGM Resorts International (NYSE:MGM) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,696 shares of the company’s stock after purchasing an additional 5,864 shares during the quarter. UniSuper Management Pty Ltd’s holdings in MGM Resorts International were worth $1,687,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Assetmark Inc. lifted its stake in 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 purchasing an additional 411 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $46,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock worth $51,000 after buying an additional 633 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $30.35 on Monday. The company has a market cap of $8.67 billion, a P/E ratio of 12.64, a PEG ratio of 0.98 and a beta of 2.18. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $33.90 and a two-hundred day moving average price of $35.94. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25.

MGM Resorts International (NYSE:MGM) last released 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 return on equity of 21.08% and a net margin of 4.33%. As a group, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity

In other news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $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 currently owned by company insiders.

Analyst Upgrades and Downgrades

MGM has been the subject of several research analyst reports. Susquehanna Bancshares boosted their target price on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Mizuho increased their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.29.

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.