Daiwa Securities Group Inc. Boosts Stock Holdings in MGM Resorts International (NYSE:MGM)

Daiwa Securities Group Inc. boosted its position in MGM Resorts International (NYSE:MGM) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,969 shares of the company’s stock after purchasing an additional 1,503 shares during the period. Daiwa Securities Group Inc.’s holdings in MGM Resorts International were worth $1,038,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of MGM. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MGM Resorts International by 2.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,581 shares of the company’s stock worth $1,891,000 after acquiring an additional 1,381 shares in the last quarter. AlphaQuest LLC lifted its position in shares of MGM Resorts International by 1,399.6% during the fourth quarter. AlphaQuest LLC now owns 29,033 shares of the company’s stock worth $1,006,000 after acquiring an additional 27,097 shares in the last quarter. Amundi lifted its position in shares of MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company’s stock worth $27,334,000 after acquiring an additional 564,202 shares in the last quarter. Davis Selected Advisers lifted its position in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after acquiring an additional 882,417 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of MGM Resorts International during the fourth quarter worth $60,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $31.78 on Friday. 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 has a 50-day moving average of $34.09 and a 200-day moving average of $36.25. The firm has a market cap of $9.07 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $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. 2.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Susquehanna Bancshares upped their price target on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Capital One Financial upped their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.