Deutsche Bank AG Increases Holdings in MGM Resorts International (NYSE:MGM)

Deutsche Bank AG increased its position in MGM Resorts International (NYSE:MGM) by 38.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429,115 shares of the company’s stock after buying an additional 395,836 shares during the quarter. Deutsche Bank AG owned 0.48% of MGM Resorts International worth $49,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eminence Capital LP bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $72,408,000. Cetera Investment Advisers raised its position in MGM Resorts International by 34.2% in the 4th quarter. Cetera Investment Advisers now owns 110,956 shares of the company’s stock worth $3,845,000 after purchasing an additional 28,268 shares during the period. Centiva Capital LP lifted its stake in MGM Resorts International by 199.9% in the fourth quarter. Centiva Capital LP now owns 68,410 shares of the company’s stock worth $2,370,000 after purchasing an additional 45,598 shares during the last quarter. Captrust Financial Advisors lifted its stake in MGM Resorts International by 84.8% in the fourth quarter. Captrust Financial Advisors now owns 14,295 shares of the company’s stock worth $495,000 after purchasing an additional 6,559 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in MGM Resorts International by 42.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company’s stock valued at $32,473,000 after buying an additional 280,700 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other 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 transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction 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 approximately $2,433,596.16. This trade represents a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna lifted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a report on Thursday, May 1st. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Macquarie decreased their target price on shares of MGM Resorts International from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $48.94.

MGM Resorts International Trading Up 6.3%

Shares of MGM opened at $34.63 on Tuesday. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. 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 firm’s 50-day moving average price is $30.64 and its 200-day moving average price is $33.91. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.98 and a beta of 1.78.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the firm posted $0.74 EPS. The business’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 22.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.