MGM Resorts International (NYSE:MGM) Shares Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC boosted its position in MGM Resorts International (NYSE:MGM) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 25,436 shares of the company’s stock after acquiring an additional 482 shares during the quarter. Blueshift Asset Management LLC’s holdings in MGM Resorts International were worth $994,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after acquiring an additional 278 shares during the period. HB Wealth Management LLC boosted its position in shares of MGM Resorts International by 6.3% during the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after purchasing an additional 293 shares in the last quarter. Quent Capital LLC grew its stake in shares of MGM Resorts International by 14.6% during the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after purchasing an additional 304 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Macquarie lowered their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, JMP Securities dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Stock Down 2.0 %

Shares of MGM opened at $37.55 on Wednesday. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company’s fifty day moving average is $38.68 and its two-hundred day moving average is $39.69. The firm has a market cap of $11.18 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.74 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. Analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the 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 completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

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.