MGM Resorts International (NYSE:MGM) Holdings Increased by Groupama Asset Managment

Groupama Asset Managment increased its holdings in MGM Resorts International (NYSE:MGM) by 17.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,510 shares of the company’s stock after purchasing an additional 14,464 shares during the quarter. Groupama Asset Managment’s holdings in MGM Resorts International were worth $3,773,000 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 MGM. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International in the third quarter worth approximately $35,000. UMB Bank n.a. increased its position in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in MGM Resorts International during the third quarter valued at approximately $44,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Down 0.5 %

Shares of MGM stock opened at $36.66 on Monday. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 3.13 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm has a fifty day moving average of $38.65 and a 200-day moving average of $39.46.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

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 value of $4,443,120.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Mizuho reduced their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company reduced their price objective on shares of 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. Truist Financial reduced their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, JMP Securities cut their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.85.

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.