Assenagon Asset Management S.A. Has $12.41 Million Holdings in MGM Resorts International (NYSE:MGM)

Assenagon Asset Management S.A. grew its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 80.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,186 shares of the company's stock after buying an additional 159,522 shares during the quarter. Assenagon Asset Management S.A. owned about 0.12% of MGM Resorts International worth $12,411,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Quent Capital LLC boosted its holdings in MGM Resorts International by 14.6% during the third quarter. Quent Capital LLC now owns 2,383 shares of the company's stock worth $93,000 after buying an additional 304 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock valued at $2,080,000 after purchasing an additional 309 shares during the last quarter. Lazari Capital Management Inc. boosted its holdings in shares of MGM Resorts International by 6.3% in the 2nd quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company's stock valued at $250,000 after purchasing an additional 333 shares during the last quarter. ProShare Advisors LLC increased its position in MGM Resorts International by 0.8% during the 2nd quarter. ProShare Advisors LLC now owns 57,876 shares of the company's stock worth $2,572,000 after purchasing an additional 431 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of MGM Resorts International by 1.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company's stock valued at $1,113,000 after acquiring an additional 459 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Down 0.8 %

MGM Resorts International stock traded down $0.28 during mid-day trading on Friday, hitting $32.85. The company's stock had a trading volume of 4,589,790 shares, compared to its average volume of 3,515,261. The firm's 50 day moving average is $35.57 and its 200 day moving average is $38.11. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a market cap of $9.78 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. 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 (NYSE:MGM - Get Free Report) last issued its 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.64 EPS. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that MGM Resorts International will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Mizuho lowered their target price on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group reduced their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Finally, Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an "overweight" rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.93.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.83% of the company's stock.

MGM Resorts International Profile

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.