Fmr LLC Has $65.74 Million Position in MGM Resorts International (NYSE:MGM)

FMR LLC grew its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,681,699 shares of the company's stock after purchasing an additional 79,486 shares during the period. FMR LLC owned approximately 0.56% of MGM Resorts International worth $65,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. increased its stake in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after buying an additional 237 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock worth $1,018,000 after purchasing an additional 278 shares during the period. HB Wealth Management LLC boosted its holdings in MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock worth $219,000 after purchasing an additional 293 shares during the period. Quent Capital LLC boosted its holdings in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company's stock worth $93,000 after purchasing an additional 304 shares during the period. Finally, Lazari Capital Management Inc. boosted its holdings in MGM Resorts International by 6.3% in the second quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company's stock worth $250,000 after purchasing an additional 333 shares during the period. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Price Performance

MGM stock traded down $0.18 during trading on Friday, hitting $36.66. The company had a trading volume of 5,294,351 shares, compared to its average volume of 3,309,350. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.68 and a beta of 2.20. The business has a 50 day moving average of $38.65 and a 200 day moving average of $39.48. 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.

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 the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.64 earnings per share. MGM Resorts International's revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that MGM Resorts International will post 2.48 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 company's stock in a transaction dated 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 directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MGM shares. Deutsche Bank Aktiengesellschaft decreased 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 report on Tuesday, October 1st. Barclays reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. Mizuho reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Finally, JMP Securities reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating for the company in a report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.