MGM Resorts International (NYSE:MGM) Shares Bought by Fisher Asset Management LLC

by · The Cerbat Gem

Fisher Asset Management LLC boosted its stake in shares of MGM Resorts International (NYSE:MGM – Free Report) by 2.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,547,883 shares of the company’s stock after purchasing an additional 90,645 shares during the period. Fisher Asset Management LLC’s holdings in MGM Resorts International were worth $177,777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the 2nd quarter worth about $28,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is owned by insiders.

MGM Resorts International Stock Up 1.4 %

Shares of NYSE MGM opened at $38.32 on Tuesday. The company has a 50 day simple moving average of $38.64 and a 200-day simple moving average of $39.71. The company has a market capitalization of $11.41 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.70 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities research analysts predict that MGM Resorts International will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MGM shares. Mizuho lowered their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.85.

Read Our Latest Research Report on MGM

MGM Resorts International Company Profile

(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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