130,484 Shares in MGM Resorts International (NYSE:MGM) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in MGM Resorts International (NYSE:MGM) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 130,484 shares of the company’s stock, valued at approximately $5,101,000. MGM Resorts International comprises about 0.5% of Dynamic Technology Lab Private Ltd’s portfolio, making the stock its 8th largest position.

A number of other large investors also recently made changes to their positions in the business. Boston Partners increased its stake in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Fisher Asset Management LLC increased its position in MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares during the last quarter. Empower Advisory Group LLC raised its stake in MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Marshall Wace LLP increased its holdings in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares during the last quarter. Finally, Key Colony Management LLC raised its position in shares of MGM Resorts International by 11.1% in the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after buying an additional 88,000 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGM. Macquarie dropped their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. JMP Securities cut their price target on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Susquehanna raised their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” 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 report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $53.15.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by company insiders.

MGM Resorts International Stock Down 0.6 %

Shares of NYSE:MGM opened at $37.80 on Monday. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm has a market cap of $11.25 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23. The company has a fifty day simple moving average of $38.64 and a 200 day simple moving average of $39.71.

MGM Resorts International (NYSE:MGM) last issued its earnings results 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). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 2.5 EPS for the current fiscal year.

MGM Resorts International Company 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.