Fisher Asset Management LLC Has $152.96 Million Position in MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC decreased its stake in MGM Resorts International (NYSE:MGM - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,414,409 shares of the company's stock after selling 133,474 shares during the period. Fisher Asset Management LLC owned approximately 1.48% of MGM Resorts International worth $152,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Goldentree Asset Management LP grew its stake in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International in the third quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock worth $89,832,000 after acquiring an additional 123,124 shares during the last quarter. FMR LLC grew its stake in shares of MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after acquiring an additional 79,486 shares during the last quarter. Finally, Empower Advisory Group LLC grew its stake in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after acquiring an additional 62,997 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Price Performance

Shares of NYSE MGM traded down $1.54 during midday trading on Monday, reaching $33.22. 4,896,211 shares of the company traded hands, compared to its average volume of 5,070,757. The stock's 50-day simple moving average is $34.62 and its 200-day simple moving average is $36.73. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The firm has a market cap of $9.49 billion, a PE ratio of 13.84, a PEG ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the topic of several research analyst reports. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Macquarie reiterated an "outperform" rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Finally, Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average target price of $51.29.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company's stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

About MGM Resorts International

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.