Fulton Bank N.A. Grows Stock Position in MGM Resorts International (NYSE:MGM)

Fulton Bank N.A. increased its holdings in MGM Resorts International (NYSE:MGM) by 12.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,953 shares of the company’s stock after buying an additional 765 shares during the quarter. Fulton Bank N.A.’s holdings in MGM Resorts International were worth $328,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in MGM Resorts International in the fourth quarter worth approximately $139,599,000. Qube Research & Technologies Ltd raised its holdings in MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after purchasing an additional 1,686,267 shares during the period. Boston Partners lifted its position in MGM Resorts International by 36.3% during the fourth quarter. Boston Partners now owns 5,427,254 shares of the company’s stock valued at $242,002,000 after purchasing an additional 1,446,362 shares in the last quarter. Capital World Investors grew its holdings in MGM Resorts International by 17.7% during the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the period. Finally, Hsbc Holdings PLC increased its position in MGM Resorts International by 112.1% in the fourth quarter. Hsbc Holdings PLC now owns 1,505,982 shares of the company’s stock worth $67,466,000 after buying an additional 795,920 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. JMP Securities lifted their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays lifted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $54.83.

MGM Resorts International Trading Up 0.7 %

Shares of NYSE MGM opened at $42.00 on Friday. The business’s 50 day moving average is $40.82 and its two-hundred day moving average is $42.82. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The stock has a market capitalization of $13.17 billion, a P/E ratio of 16.15, a PEG ratio of 0.91 and a beta of 2.24. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, research analysts expect that MGM Resorts International will post 2.9 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,988 shares of company stock valued at $5,991,759. Corporate insiders own 2.13% of the company’s stock.

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.