Charles Schwab Investment Management Inc. Has $87.73 Million Holdings in MGM Resorts International (NYSE:MGM)

Charles Schwab Investment Management Inc. reduced its position in MGM Resorts International (NYSE:MGM) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,244,361 shares of the company’s stock after selling 119,092 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.75% of MGM Resorts International worth $87,732,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MGM. Advisors Asset Management Inc. lifted its holdings in shares of MGM Resorts International by 106.8% during the 1st quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock worth $403,000 after acquiring an additional 4,412 shares during the period. Price T Rowe Associates Inc. MD raised its position in MGM Resorts International by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock worth $26,602,000 after purchasing an additional 5,968 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in MGM Resorts International by 12.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company’s stock worth $281,000 after purchasing an additional 670 shares during the period. Atria Investments Inc boosted its holdings in MGM Resorts International by 34.9% during the first quarter. Atria Investments Inc now owns 45,606 shares of the company’s stock valued at $2,153,000 after purchasing an additional 11,799 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of MGM Resorts International by 78.5% in the 1st quarter. Cetera Investment Advisers now owns 64,323 shares of the company’s stock valued at $3,037,000 after purchasing an additional 28,288 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $37.37 on Thursday. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 2.74 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business’s 50-day simple moving average is $38.68 and its 200 day simple moving average is $39.67.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 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 analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

MGM has been the subject of several analyst reports. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reduced their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday. Barclays dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company reduced 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 research report on Thursday, October 17th. Finally, Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.85.

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.