MGM Resorts International (NYSE:MGM) Shares Purchased by Zacks Investment Management

Zacks Investment Management increased its stake in MGM Resorts International (NYSE:MGM) by 7.8% in the third quarter, Holdings Channel reports. The firm owned 400,393 shares of the company’s stock after purchasing an additional 29,107 shares during the period. Zacks Investment Management’s holdings in MGM Resorts International were worth $15,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after buying an additional 90,645 shares during the period. Goldentree Asset Management LP lifted its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the period. HG Vora Capital Management LLC purchased a new stake in MGM Resorts International during the 3rd quarter valued at about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after purchasing an additional 123,124 shares during the period. Finally, FMR LLC raised its stake in shares of MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGM shares. JMP Securities dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Truist Financial dropped their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Mizuho lowered their price target on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $52.85.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.13% of the stock is owned by company insiders.

MGM Resorts International Stock Performance

NYSE MGM opened at $36.66 on Friday. 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 twelve month low of $33.44 and a twelve month high of $48.24. The stock has a 50-day moving average of $38.65 and a 200 day moving average of $39.47. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.68 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Sell-side analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

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.