Todd Asset Management LLC Purchases 59,691 Shares of MGM Resorts International $MGM

Todd Asset Management LLC raised its stake in MGM Resorts International (NYSE:MGM) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 709,520 shares of the company’s stock after purchasing an additional 59,691 shares during the period. Todd Asset Management LLC’s holdings in MGM Resorts International were worth $25,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International in the second quarter valued at about $25,000. Global Retirement Partners LLC grew its stake in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares during the last quarter. Elyxium Wealth LLC purchased a new position in MGM Resorts International in the fourth quarter valued at about $42,000. City Holding Co. purchased a new position in MGM Resorts International in the fourth quarter valued at about $44,000. Finally, Stance Capital LLC purchased a new position in MGM Resorts International in the third quarter valued at about $46,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the topic of several analyst reports. Morgan Stanley lifted their target price on MGM Resorts International from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Wednesday, April 8th. Stifel Nicolaus cut their target price on MGM Resorts International from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company lifted their target price on MGM Resorts International from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Finally, UBS Group cut their target price on MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.12.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Iac Inc. purchased 450,000 shares of the company’s stock in a transaction dated Tuesday, March 24th. The shares were acquired at an average price of $37.13 per share, for a total transaction of $16,708,500.00. Following the purchase, the insider directly owned 66,822,350 shares of the company’s stock, valued at approximately $2,481,113,855.50. The trade was a 0.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.38% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of MGM stock opened at $38.44 on Monday. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $40.94. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 53.39 and a beta of 1.28. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33. The stock’s 50-day simple moving average is $37.55 and its 200-day simple moving average is $35.95.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. MGM Resorts International’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that MGM Resorts International will post 1.99 earnings per share for the current fiscal year.

MGM Resorts International Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.