RWC Asset Management LLP Invests $4,116,000 in MGM Resorts International (MGM)

RWC Asset Management LLP purchased a new position in MGM Resorts International (NYSE:MGM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 158,111 shares of the company’s stock, valued at approximately $4,116,000.

Several other institutional investors also recently bought and sold shares of the company. Canyon Capital Advisors LLC boosted its stake in shares of MGM Resorts International by 1.2% in the third quarter. Canyon Capital Advisors LLC now owns 17,623,648 shares of the company’s stock worth $458,744,000 after buying an additional 211,912 shares in the last quarter. Dana Investment Advisors Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth about $4,483,000. 1832 Asset Management L.P. acquired a new stake in shares of MGM Resorts International during the third quarter worth about $13,014,000. Scopus Asset Management L.P. acquired a new stake in shares of MGM Resorts International during the third quarter worth about $17,570,000. Finally, Two Sigma Advisers LP boosted its stake in shares of MGM Resorts International by 1,311.4% in the third quarter. Two Sigma Advisers LP now owns 1,832,325 shares of the company’s stock worth $47,695,000 after buying an additional 1,702,506 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

Shares of MGM Resorts International (NYSE:MGM) opened at 29.16 on Tuesday. The company has a market capitalization of $16.72 billion, a PE ratio of 55.86 and a beta of 1.66. MGM Resorts International has a 1-year low of $17.33 and a 1-year high of $30.62. The stock’s 50 day moving average is $28.96 and its 200 day moving average is $26.99.

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A number of brokerages recently issued reports on MGM. Nomura reiterated a “buy” rating and issued a $34.00 price objective on shares of MGM Resorts International in a report on Thursday, December 15th. Instinet reiterated a “buy” rating and issued a $35.00 price objective on shares of MGM Resorts International in a report on Tuesday, February 7th. Goldman Sachs Group, Inc. (The) began coverage on shares of MGM Resorts International in a report on Thursday, December 15th. They issued a “buy” rating and a $37.00 price objective for the company. Telsey Advisory Group upped their price objective on shares of MGM Resorts International from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, December 9th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $39.00 price target on shares of MGM Resorts International in a report on Friday. One analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $32.37.

In other MGM Resorts International news, President William Hornbuckle sold 46,772 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $1,356,388.00. Following the completion of the sale, the president now directly owns 135,141 shares in the company, valued at $3,919,089. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel D’arrigo sold 32,618 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $30.07, for a total transaction of $980,823.26. Following the sale, the insider now owns 158,722 shares of the company’s stock, valued at $4,772,770.54. The disclosure for this sale can be found here. Insiders sold 111,664 shares of company stock valued at $3,275,410 over the last 90 days. 16.90% of the stock is owned by company insiders.

About MGM Resorts International

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM).

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