Robeco Institutional Asset Management B.V. Purchases 60,377 Shares of MGM Resorts International (NYSE:MGM)

Robeco Institutional Asset Management B.V. grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 58.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,120 shares of the company’s stock after acquiring an additional 60,377 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of MGM Resorts International worth $6,376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MGM. Goldentree Asset Management LP bought a new stake in MGM Resorts International in the first quarter worth $35,726,000. Marshall Wace LLP boosted its holdings in MGM Resorts International by 174.8% during 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. Boston Partners grew its position in MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. LSV Asset Management purchased a new position in MGM Resorts International in the 2nd quarter worth approximately $21,149,000. Finally, Shellback Capital LP lifted its position in MGM Resorts International by 433.3% in the second quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock valued at $17,776,000 after purchasing an additional 325,000 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on MGM shares. Mizuho decreased their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Truist Financial cut their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Macquarie lowered their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities decreased their target price on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $37.66 on Friday. The company has a 50 day simple moving average of $38.36 and a two-hundred day simple moving average of $40.02. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a market capitalization of $11.21 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 2.60 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts expect that MGM Resorts International will post 2.5 EPS for the current fiscal year.

About MGM Resorts International

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.