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

American Assets Capital Advisers LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 135.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 469,552 shares of the company’s stock after purchasing an additional 269,761 shares during the period. MGM Resorts International accounts for about 5.6% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 7th biggest holding. American Assets Capital Advisers LLC owned approximately 0.16% of MGM Resorts International worth $18,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. Eastern Bank bought a new position in MGM Resorts International during the 3rd quarter worth approximately $35,000. UMB Bank n.a. grew 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. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of MGM Resorts International in the second quarter worth about $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGM shares. Barclays cut 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 research report on Thursday, October 31st. UBS Group raised shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Mizuho reduced their price target 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, Truist Financial decreased their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Stock Performance

MGM stock traded down $0.93 on Tuesday, hitting $35.79. The company’s stock had a trading volume of 1,173,298 shares, compared to its average volume of 4,099,937. The firm has a 50 day moving average of $38.32 and a two-hundred day moving average of $39.90. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. 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 (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by insiders.

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.