MGM Resorts International (NYSE:MGM) Stock Holdings Lowered by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in MGM Resorts International (NYSE:MGM) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,879 shares of the company’s stock after selling 8,042 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MGM Resorts International were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Davis Selected Advisers bought a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $361,915,000. Boston Partners raised its holdings in shares of MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after purchasing an additional 3,723,659 shares in the last quarter. Invesco Ltd. raised its holdings in shares of MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after purchasing an additional 500,566 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of MGM Resorts International by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after purchasing an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after purchasing an additional 1,686,267 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

Shares of MGM opened at $42.85 on Wednesday. The company’s 50 day moving average price is $43.81 and its 200 day moving average price is $42.05. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a market capitalization of $13.58 billion, a PE ratio of 13.52, a PEG ratio of 1.75 and a beta of 2.19. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share. Research analysts expect that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MGM. Macquarie restated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Morgan Stanley boosted their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Barclays cut their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, JMP Securities restated a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $55.34.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.83% of the company’s stock.

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.