Forsta AP Fonden Has $1.91 Million Stake in MGM Resorts International (NYSE:MGM)

Forsta AP Fonden boosted its position in MGM Resorts International (NYSE:MGM) by 31.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,900 shares of the company’s stock after purchasing an additional 11,600 shares during the period. Forsta AP Fonden’s holdings in MGM Resorts International were worth $1,912,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. ACR Alpine Capital Research LLC acquired a new position in shares of MGM Resorts International in the first quarter valued at approximately $3,922,000. Marshall Wace LLP increased its position in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. Maverick Capital Ltd. bought a new position in shares of MGM Resorts International during the second quarter valued at $1,211,000. Texas Permanent School Fund Corp lifted its holdings in shares of MGM Resorts International by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of MGM Resorts International in the second quarter worth $3,314,000. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul J. Salem acquired 147,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the acquisition, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 216,400 shares of company stock worth $7,312,197 over the last three months. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Performance

Shares of MGM opened at $41.40 on Thursday. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a market cap of $12.57 billion, a PE ratio of 15.92, a P/E/G ratio of 0.97 and a beta of 2.23. The stock has a 50-day moving average of $38.46 and a 200-day moving average of $40.23. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts predict that MGM Resorts International will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities cut their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a report on Monday, October 14th. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Truist Financial lowered their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

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.