Union Bancaire Privee UBP SA Buys New Position in MGM Resorts International (NYSE:MGM)

Union Bancaire Privee UBP SA bought a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 5,086 shares of the company’s stock, valued at approximately $175,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Regatta Capital Group LLC lifted its stake in MGM Resorts International by 5.8% during the fourth quarter. Regatta Capital Group LLC now owns 18,617 shares of the company’s stock valued at $645,000 after purchasing an additional 1,025 shares during the last quarter. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at $28,000. MCF Advisors LLC lifted its position in shares of MGM Resorts International by 20.4% during the 4th quarter. MCF Advisors LLC now owns 22,075 shares of the company’s stock valued at $765,000 after acquiring an additional 3,744 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its holdings in shares of MGM Resorts International by 6.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock worth $926,000 after acquiring an additional 1,585 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $34.02 on Thursday. The stock’s 50-day moving average is $34.93 and its two-hundred day moving average is $37.50. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The firm has a market cap of $10.13 billion, a P/E ratio of 12.15, a PEG ratio of 3.06 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Analysts predict that MGM Resorts International will post 2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on MGM. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, January 16th. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Mizuho cut their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Morgan Stanley upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

MGM Resorts International 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.