MGM Resorts International (NYSE:MGM) Holdings Trimmed by Swiss National Bank

Swiss National Bank lowered its holdings in MGM Resorts International (NYSE:MGM) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 643,600 shares of the company’s stock after selling 54,700 shares during the period. Swiss National Bank owned approximately 0.22% of MGM Resorts International worth $22,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Finally, Assetmark Inc. grew its position in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Up 2.1 %

MGM opened at $32.43 on Tuesday. The company has a market capitalization of $9.26 billion, a P/E ratio of 13.51, a P/E/G ratio of 0.98 and a beta of 2.18. MGM Resorts International has a fifty-two week low of $29.99 and a fifty-two week high of $48.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock has a fifty day moving average of $34.06 and a 200-day moving average of $36.21.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

MGM has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company upped their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Morgan Stanley boosted their price target on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Macquarie reaffirmed an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

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.