Fisher Asset Management LLC Grows Stake in MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC raised its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,547,883 shares of the company's stock after acquiring an additional 90,645 shares during the quarter. Fisher Asset Management LLC owned approximately 1.53% of MGM Resorts International worth $177,777,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its stake in MGM Resorts International by 106.8% in the first quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company's stock worth $403,000 after purchasing an additional 4,412 shares during the period. Price T Rowe Associates Inc. MD lifted its position in MGM Resorts International by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company's stock valued at $26,602,000 after acquiring an additional 5,968 shares during the period. Mount Yale Investment Advisors LLC boosted its stake in MGM Resorts International by 38.4% during the first quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company's stock worth $396,000 after acquiring an additional 2,325 shares in the last quarter. Dynasty Wealth Management LLC purchased a new stake in MGM Resorts International in the first quarter worth about $638,000. Finally, B. Riley Wealth Advisors Inc. increased its stake in shares of MGM Resorts International by 12.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company's stock valued at $281,000 after purchasing an additional 670 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction 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 sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company's stock.

MGM Resorts International Stock Performance

Shares of MGM traded down $0.76 on Tuesday, reaching $37.55. The company's stock had a trading volume of 2,851,940 shares, compared to its average volume of 4,091,858. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The stock has a market capitalization of $11.18 billion, a P/E ratio of 13.37, a PEG 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. The stock's 50 day simple moving average is $38.68 and its two-hundred day simple moving average is $39.69.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during 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 firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MGM has been the topic of several recent research reports. UBS Group upgraded MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Macquarie reduced 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. Mizuho dropped their price target 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. Morgan Stanley raised their price objective 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, Susquehanna increased their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a "positive" rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and a consensus target price 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.