Natixis Advisors L.P. Has $8.96 Million Position in MGM Resorts International (NYSE:MGM)

Natixis Advisors L.P. grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,631 shares of the company’s stock after buying an additional 8,694 shares during the quarter. Natixis Advisors L.P. owned 0.06% of MGM Resorts International worth $8,964,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its holdings in shares of MGM Resorts International by 4.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock valued at $194,190,000 after purchasing an additional 202,434 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of MGM Resorts International by 4.5% in the fourth quarter. First Trust Direct Indexing L.P. now owns 11,874 shares of the company’s stock valued at $531,000 after purchasing an additional 514 shares during the last quarter. RB Capital Management LLC lifted its position in shares of MGM Resorts International by 6.6% during the fourth quarter. RB Capital Management LLC now owns 17,040 shares of the company’s stock valued at $761,000 after purchasing an additional 1,060 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in MGM Resorts International in the 4th quarter valued at about $220,000. Finally, Savant Capital LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at approximately $205,000. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MGM. Deutsche Bank Aktiengesellschaft upped their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JMP Securities upped their price target on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research report on Monday. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Finally, Macquarie reiterated an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.83.

MGM Resorts International Stock Performance

Shares of MGM opened at $40.03 on Thursday. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 0.95 and a beta of 2.22. The business’s fifty day simple moving average is $43.43 and its two-hundred day simple moving average is $42.38. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm posted $0.44 earnings per share. MGM Resorts International’s revenue was up 13.2% compared to the same quarter last year. Research analysts anticipate that MGM Resorts International will post 2.76 earnings per share 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.