MGM Resorts International (NYSE:MGM) Shares Bought by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC boosted its holdings in MGM Resorts International (NYSE:MGM) by 135.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 469,552 shares of the company’s stock after acquiring an additional 269,761 shares during the quarter. MGM Resorts International makes up approximately 5.6% of American Assets Capital Advisers LLC’s holdings, making the stock its 7th biggest holding. American Assets Capital Advisers LLC’s holdings in MGM Resorts International were worth $18,355,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Goldentree Asset Management LP bought a new position in MGM Resorts International in the 1st quarter valued at about $35,726,000. Marshall Wace LLP boosted its position in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the period. Boston Partners boosted its holdings 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 worth $286,933,000 after acquiring an additional 684,676 shares during the period. LSV Asset Management bought a new position in MGM Resorts International in the 2nd quarter valued at $21,149,000. Finally, Shellback Capital LP increased its stake in MGM Resorts International by 433.3% in the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock worth $17,776,000 after acquiring an additional 325,000 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGM. 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. Barclays cut their price objective on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Mizuho lowered their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Stock Down 2.5 %

MGM stock traded down $0.93 during trading on Tuesday, hitting $35.79. 1,173,298 shares of the company’s stock were exchanged, compared to its average volume of 4,099,937. The business has a 50-day moving average price of $38.32 and a two-hundred day moving average price of $39.90. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.62 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last announced its earnings results 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the company’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 completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.