Oddo BHF Asset Management Sas Invests $1.89 Million in MGM Resorts International (NYSE:MGM)

Oddo BHF Asset Management Sas purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 48,240 shares of the company's stock, valued at approximately $1,886,000.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International in the 3rd quarter valued at $28,000. Eastern Bank bought a new position in MGM Resorts International during the 3rd quarter worth $35,000. UMB Bank n.a. lifted its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after buying an additional 237 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGM Resorts International in the third quarter valued at about $44,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MGM. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. 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. Morgan Stanley increased their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Mizuho dropped their price objective on 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, Deutsche Bank Aktiengesellschaft reduced their target price 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average target price of $52.54.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $0.55 during midday trading on Friday, hitting $36.25. 2,843,383 shares of the company traded hands, compared to its average volume of 4,063,788. The firm's fifty day moving average price is $38.37 and its 200-day moving average price is $39.36. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.16 and a beta of 2.20. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its 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). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm posted $0.64 EPS. The business's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.13% of the company's stock.

MGM Resorts International Company Profile

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.