Groupama Asset Managment Buys 14,464 Shares of MGM Resorts International (NYSE:MGM)

Groupama Asset Managment increased its position in MGM Resorts International (NYSE:MGM - Free Report) by 17.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,510 shares of the company's stock after buying an additional 14,464 shares during the period. Groupama Asset Managment's holdings in MGM Resorts International were worth $3,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGM. UMB Bank n.a. boosted its stake in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock valued at $1,018,000 after buying an additional 278 shares during the last quarter. HB Wealth Management LLC grew its holdings in MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock worth $219,000 after buying an additional 293 shares in the last quarter. Quent Capital LLC raised its position in MGM Resorts International by 14.6% in the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company's stock valued at $93,000 after buying an additional 304 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock valued at $2,080,000 after acquiring an additional 309 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded up $0.14 during trading on Monday, hitting $36.80. 3,231,295 shares of the stock traded hands, compared to its average volume of 4,067,209. The firm's fifty day moving average is $38.65 and its 200-day moving average is $39.46. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.13 and a beta of 2.20. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its 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). 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 analysts' expectations of $4.21 billion. During the same quarter in the previous year, the business earned $0.64 EPS. MGM Resorts International's revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. JMP Securities decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating for the company in a research report on Monday, November 25th. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Mizuho decreased their price objective 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. Finally, Barclays dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and a consensus target price of $52.85.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value 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 $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.