Zurcher Kantonalbank Zurich Cantonalbank Has $2.10 Million Holdings in MGM Resorts International (NYSE:MGM)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in MGM Resorts International (NYSE:MGM) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CVA Family Office LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Sandy Spring Bank grew its position in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after buying an additional 500 shares during the period. Park Place Capital Corp grew its position in shares of MGM Resorts International by 618.1% during the 3rd quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after buying an additional 853 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of MGM Resorts International by 49.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after buying an additional 367 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM opened at $42.85 on Wednesday. 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 has a twelve month low of $34.12 and a twelve month high of $51.35. The firm’s 50 day moving average price is $43.81 and its two-hundred day moving average price is $42.05. The firm has a market cap of $13.58 billion, a P/E ratio of 13.52, a PEG ratio of 1.75 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, analysts forecast that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Mizuho assumed coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target for the company. JMP Securities reiterated a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Barclays reduced their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Bank Of America (Bofa) lifted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $55.34.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction 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 sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by 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.