Bridgewater Associates LP Purchases 237,151 Shares of MGM Resorts International (NYSE:MGM)

Bridgewater Associates LP raised its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 142.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 404,213 shares of the company's stock after purchasing an additional 237,151 shares during the period. Bridgewater Associates LP owned approximately 0.14% of MGM Resorts International worth $15,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the second quarter worth approximately $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth $28,000. Eastern Bank bought a new position in shares of MGM Resorts International in the third quarter worth $35,000. EverSource Wealth Advisors LLC increased its position in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock worth $41,000 after purchasing an additional 329 shares during the period. Finally, UMB Bank n.a. raised its stake in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company's stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Trading Down 0.5 %

Shares of NYSE:MGM traded down $0.18 during midday trading on Thursday, hitting $37.37. 3,184,312 shares of the stock were exchanged, compared to its average volume of 4,087,898. The business's 50-day moving average price is $38.69 and its 200 day moving average price is $39.65. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.74 and a beta of 2.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 earnings per share. Analysts predict that MGM Resorts International will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MGM. Mizuho reduced their price objective 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. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Truist Financial cut their target price on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Barclays reduced their target price on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, October 31st. Finally, Macquarie lowered their price target on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.85.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by company insiders.

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.