Savoir Faire Capital Management L.P. Has $2.47 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Savoir Faire Capital Management L.P. increased its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 43.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 63,191 shares of the company's stock after purchasing an additional 19,231 shares during the period. Savoir Faire Capital Management L.P.'s holdings in MGM Resorts International were worth $2,470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Goldentree Asset Management LP acquired a new position in shares of MGM Resorts International during the 1st quarter worth approximately $35,726,000. Marshall Wace LLP increased its holdings in shares of MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock valued at $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Boston Partners raised its position in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company's stock valued at $286,933,000 after purchasing an additional 684,676 shares during the period. LSV Asset Management acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth about $21,149,000. Finally, Shellback Capital LP boosted its holdings in shares of MGM Resorts International by 433.3% during the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company's stock worth $17,776,000 after buying an additional 325,000 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 121,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on MGM. Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research report on Thursday, August 1st. JMP Securities dropped their price target on MGM Resorts International from $56.00 to $54.00 and set a "market outperform" rating for the company in a report on Thursday, October 31st. UBS Group raised MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped 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 research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and a consensus target price of $53.15.

MGM Resorts International Price Performance

Shares of MGM stock traded up $0.11 during trading hours on Tuesday, reaching $37.26. The company's stock had a trading volume of 2,445,755 shares, compared to its average volume of 4,111,428. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The firm's 50 day simple moving average is $38.53 and its 200-day simple moving average is $39.76. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.66 and a beta of 2.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Sell-side analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current 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.