MGM Resorts International (NYSE:MGM) Holdings Lifted by Zacks Investment Management

Zacks Investment Management increased its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 400,393 shares of the company's stock after purchasing an additional 29,107 shares during the period. Zacks Investment Management owned 0.13% of MGM Resorts International worth $15,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the second quarter worth about $28,000. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $28,000. Eastern Bank purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $35,000. UMB Bank n.a. raised its stake 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 valued at $42,000 after purchasing an additional 237 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the third quarter valued at $44,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays dropped their price target 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. Deutsche Bank Aktiengesellschaft cut their price target on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Mizuho dropped their price objective on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Finally, UBS Group upgraded MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $52.85.

MGM Resorts International Stock Performance

MGM traded down $0.18 on Friday, hitting $36.66. 5,294,351 shares of the company's stock were exchanged, compared to its average volume of 3,309,350. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average of $38.65 and a two-hundred day moving average of $39.47. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The firm has a market cap of $10.92 billion, a PE ratio of 13.09, a P/E/G ratio of 2.68 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly 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 analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

MGM Resorts International 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.