Assenagon Asset Management S.A. Purchases 54,355 Shares of MGM Resorts International (NYSE:MGM)

Assenagon Asset Management S.A. boosted its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 37.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,664 shares of the company's stock after buying an additional 54,355 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of MGM Resorts International worth $7,766,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGM. ACR Alpine Capital Research LLC acquired a new position in shares of MGM Resorts International in the 1st quarter valued at $3,922,000. Marshall Wace LLP lifted its stake in shares of MGM Resorts International by 174.8% in the 2nd 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 period. Maverick Capital Ltd. acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $1,211,000. Texas Permanent School Fund Corp lifted its stake in shares of MGM Resorts International by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company's stock valued at $2,667,000 after purchasing an additional 245 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $3,314,000. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.27 during mid-day trading on Tuesday, hitting $41.99. The stock had a trading volume of 5,059,899 shares, compared to its average volume of 4,049,775. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 0.97 and a beta of 2.23. The company's 50 day simple moving average is $38.41 and its 200 day simple moving average is $40.23. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.59 earnings per share. On average, equities research analysts forecast that MGM Resorts International will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the business's stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 38,299 shares of the company's stock, valued at approximately $1,302,166. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William Hornbuckle purchased 58,900 shares of the company's stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the transaction, the chief executive officer now owns 377,112 shares of the company's stock, valued at $12,719,987.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 216,400 shares of company stock worth $7,312,197 over the last three months. Insiders own 2.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on MGM shares. Macquarie dropped their price objective on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. UBS Group raised MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. JMP Securities lowered their target price on MGM Resorts International from $57.00 to $56.00 and set a "market outperform" rating for the company in a report on Monday, October 14th. Barclays lowered their target price on MGM Resorts International from $56.00 to $54.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Finally, Susquehanna raised their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a "positive" rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.08.

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.