Korea Investment CORP Has $5.03 Million Holdings in MGM Resorts International (NYSE:MGM)

Korea Investment CORP lifted its position in MGM Resorts International (NYSE:MGM) by 964.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,287 shares of the company’s stock after purchasing an additional 131,636 shares during the quarter. Korea Investment CORP’s holdings in MGM Resorts International were worth $5,034,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Davis Selected Advisers raised its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares in the last quarter. HG Vora Capital Management LLC bought a new position in MGM Resorts International during the third quarter worth about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MGM Resorts International by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after purchasing an additional 123,124 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after buying an additional 38,749 shares in the last quarter. Finally, FMR LLC lifted its position in shares of MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after buying an additional 79,486 shares during the period. 68.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 2.3 %

Shares of NYSE MGM opened at $29.67 on Tuesday. MGM Resorts International has a fifty-two week low of $28.63 and a fifty-two week high of $48.25. The firm has a market capitalization of $8.47 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company’s 50 day simple moving average is $33.84 and its 200 day simple moving average is $35.90.

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

Analyst Ratings Changes

Several research firms have issued reports on MGM. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.29.

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.