Charles Schwab Investment Management Inc. Boosts Stock Position in MGM Resorts International (NYSE:MGM)

Charles Schwab Investment Management Inc. grew its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,283,110 shares of the company's stock after acquiring an additional 38,749 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.77% of MGM Resorts International worth $79,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MGM Resorts International by 0.6% in 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. Ballentine Partners LLC boosted its position in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock valued at $227,000 after buying an additional 333 shares during the last quarter. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in MGM Resorts International by 1.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company's stock valued at $1,113,000 after acquiring an additional 459 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its stake in shares of MGM Resorts International by 1.9% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,436 shares of the company's stock worth $994,000 after acquiring an additional 482 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

MGM has been the topic of a number of research analyst reports. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. JMP Securities reissued a "market outperform" rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus raised 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 report on Friday, February 14th. Finally, Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.29.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.

MGM Resorts International Price Performance

Shares of MGM stock traded up $1.62 on Friday, reaching $31.78. The company's stock had a trading volume of 5,185,010 shares, compared to its average volume of 5,261,767. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.24. The stock's 50 day simple moving average is $34.14 and its 200-day simple moving average is $36.30. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $9.07 billion, a P/E ratio of 13.24, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.