Geode Capital Management LLC Sells 363,793 Shares of MGM Resorts International (NYSE:MGM)

Geode Capital Management LLC decreased its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,391,300 shares of the company's stock after selling 363,793 shares during the period. Geode Capital Management LLC owned about 1.81% of MGM Resorts International worth $210,016,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MGM. Fisher Asset Management LLC grew its stake in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock valued at $177,777,000 after buying an additional 90,645 shares during the last quarter. Goldentree Asset Management LP boosted its holdings in shares of MGM Resorts International by 86.4% during 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 period. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International in the third quarter valued at approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of MGM Resorts International by 5.7% during 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 purchasing an additional 123,124 shares during the period. Finally, FMR LLC lifted its holdings in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after purchasing an additional 79,486 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MGM shares. Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Mizuho decreased 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. Barclays dropped their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Friday. Morgan Stanley boosted 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 report on Tuesday, October 22nd. Finally, JMP Securities lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average price target of $52.54.

MGM Resorts International Price Performance

MGM traded down $0.97 during trading on Monday, hitting $35.28. 5,601,210 shares of the stock traded hands, compared to its average volume of 4,070,142. The business has a 50 day moving average price of $38.37 and a 200 day moving average price of $39.37. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a market cap of $10.50 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly 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 company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction 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. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.13% of the company's stock.

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.