Dynamic Technology Lab Private Ltd Invests $5.10 Million in MGM Resorts International (NYSE:MGM)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of MGM Resorts International (NYSE:MGM) in the third quarter, Holdings Channel reports. The fund acquired 130,484 shares of the company’s stock, valued at approximately $5,101,000. MGM Resorts International accounts for 0.5% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 8th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of MGM Resorts International by 174.8% during the second 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. acquired a new position in MGM Resorts International during the 2nd quarter valued at about $1,211,000. Empower Advisory Group LLC grew its position in MGM Resorts International by 4.2% in the 3rd 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 last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of MGM Resorts International in the second quarter valued at approximately $3,314,000. Finally, Boston Partners raised its holdings in shares of MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by insiders.

MGM Resorts International Stock Performance

MGM opened at $37.80 on Monday. The business has a fifty day simple moving average of $38.64 and a 200-day simple moving average of $39.71. The firm has a market cap of $11.25 billion, a PE ratio of 13.50, a P/E/G ratio of 2.70 and a beta of 2.23. 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 quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

MGM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Stifel Nicolaus raised their price target on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. JMP Securities dropped 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 research report on Thursday, October 31st. Finally, Macquarie decreased their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.15.

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.