MGM Resorts International (NYSE:MGM) Holdings Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in shares of MGM Resorts International (NYSE:MGM) by 48.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,081 shares of the company’s stock after purchasing an additional 7,255 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MGM Resorts International were worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. US Bancorp DE grew its position in MGM Resorts International by 1.3% during the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock worth $1,112,000 after purchasing an additional 298 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in MGM Resorts International during the 1st quarter worth approximately $244,000. Kingsview Wealth Management LLC purchased a new position in shares of MGM Resorts International during the 1st quarter valued at $357,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of MGM Resorts International by 84.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 292,363 shares of the company’s stock valued at $13,892,000 after acquiring an additional 133,855 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of MGM Resorts International by 548.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 24,661 shares of the company’s stock valued at $1,164,000 after acquiring an additional 20,857 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MGM shares. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Macquarie lowered their price target on shares of 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, Barclays decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Stock Down 0.3 %

MGM Resorts International stock opened at $37.15 on Tuesday. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.66 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The firm has a fifty day moving average price of $38.48 and a two-hundred day moving average price of $39.79.

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

Insider Activity

In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated 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 approximately $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by company 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.