MGM Resorts International (NYSE:MGM) Holdings Raised by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its stake in MGM Resorts International (NYSE:MGMFree Report) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,357,344 shares of the company’s stock after acquiring an additional 213,528 shares during the quarter. Fisher Asset Management LLC’s holdings in MGM Resorts International were worth $194,686,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Pathstone Family Office LLC bought a new stake in MGM Resorts International in the third quarter worth about $434,000. PNC Financial Services Group Inc. lifted its stake in MGM Resorts International by 4.4% during the third quarter. PNC Financial Services Group Inc. now owns 41,526 shares of the company’s stock valued at $1,526,000 after purchasing an additional 1,747 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in MGM Resorts International by 25.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 62,664 shares of the company’s stock worth $2,291,000 after buying an additional 12,770 shares in the last quarter. QRG Capital Management Inc. acquired a new position in MGM Resorts International in the third quarter worth approximately $13,930,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of MGM Resorts International in the third quarter valued at $784,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MGM shares. JPMorgan Chase & Co. increased their price target on MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and raised their target price for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Mizuho boosted their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JMP Securities upped 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 research report on Monday, May 6th. Finally, Barclays lifted their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

Get Our Latest Report on MGM Resorts International

MGM Resorts International Stock Down 1.7 %

NYSE MGM traded down $0.68 on Friday, reaching $39.85. The stock had a trading volume of 2,680,903 shares, compared to its average volume of 3,329,645. 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 has a 1 year low of $34.12 and a 1 year high of $51.35. The business has a 50 day moving average price of $41.21 and a 200 day moving average price of $42.82. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.87 and a beta of 2.24.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business earned $0.44 EPS. MGM Resorts International’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts forecast that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexis Herman sold 4,344 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction dated 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 directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock valued at $5,991,759 in the last quarter. Insiders own 2.13% of the company’s stock.

About MGM Resorts International

(Free Report)

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.

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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:MGMFree Report).

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

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