Markel Group Inc. Invests $1.39 Million in MGM Resorts International (NYSE:MGM)

Markel Group Inc. acquired a new position in MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 40,000 shares of the company’s stock, valued at approximately $1,386,000.

A number of other institutional investors have also made changes to their positions in the business. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International during the third quarter worth about $97,725,000. Goldentree Asset Management LP grew its position in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Davis Selected Advisers grew its position in 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 buying an additional 882,417 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in MGM Resorts International during the fourth quarter worth about $20,053,000. Finally, Amundi grew its position in 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 buying an additional 564,202 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Down 0.5 %

Shares of MGM opened at $31.86 on Tuesday. The company has a market capitalization of $9.10 billion, a P/E ratio of 13.27, a PEG ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. The business’s 50 day simple moving average is $34.40 and its 200-day simple moving average is $36.48.

MGM Resorts International (NYSE:MGM) last announced 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, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MGM has been the topic of a number of recent research reports. Truist Financial decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Mizuho lifted their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.