Charles Schwab Investment Management Inc. Has $87.73 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Charles Schwab Investment Management Inc. lowered its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,244,361 shares of the company's stock after selling 119,092 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of MGM Resorts International worth $87,732,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MGM. Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International during the 1st quarter worth $35,726,000. Marshall Wace LLP grew its stake in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock worth $49,330,000 after buying an additional 706,159 shares in the last quarter. Boston Partners increased its holdings in MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company's stock valued at $286,933,000 after buying an additional 684,676 shares during the period. LSV Asset Management bought a new position in MGM Resorts International in the 2nd quarter valued at about $21,149,000. Finally, Shellback Capital LP raised its position in shares of MGM Resorts International by 433.3% in the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company's stock valued at $17,776,000 after buying an additional 325,000 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Down 0.5 %

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

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS 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 analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS. As a group, research analysts expect that MGM Resorts International will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MGM shares. UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research report on Friday, August 23rd. Mizuho decreased their price target on 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 upped their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. JMP Securities decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a research report on Monday. Finally, Susquehanna boosted their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.85.

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.