Candriam S.C.A. Purchases Shares of 19,536 MGM Resorts International (NYSE:MGM)

Candriam S.C.A. purchased a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 19,536 shares of the company’s stock, valued at approximately $677,000.

A number of other large investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the third quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at about $28,000. Assetmark Inc. raised its position in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC raised its position in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the third quarter valued at about $44,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $31.86 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $30.69 and a 12 month high of $48.24. The firm has a market cap of $9.10 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.98 and a beta of 2.18. The company’s 50-day moving average price is $34.40 and its two-hundred day moving average price is $36.48.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity

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

Analysts Set New Price Targets

MGM has been the topic of several research analyst reports. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Truist Financial lowered their price target on shares of 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. Finally, Stifel Nicolaus raised their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.