Franklin Resources Inc. Purchases 590 Shares of MGM Resorts International (NYSE:MGM)

Franklin Resources Inc. increased its position in shares of MGM Resorts International (NYSE:MGMFree Report) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,579 shares of the company’s stock after buying an additional 590 shares during the period. Franklin Resources Inc.’s holdings in MGM Resorts International were worth $2,751,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Davis Selected Advisers acquired a new stake in MGM Resorts International in the third quarter worth $361,915,000. Boston Partners grew its holdings in shares of MGM Resorts International by 36.3% during the fourth quarter. Boston Partners now owns 5,427,254 shares of the company’s stock valued at $242,002,000 after buying an additional 1,446,362 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of MGM Resorts International by 4.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock valued at $194,190,000 after buying an additional 202,434 shares during the last quarter. Invesco Ltd. grew its holdings in shares of MGM Resorts International by 14.6% during the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after buying an additional 500,566 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $139,599,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Trading Up 4.3 %

NYSE:MGM opened at $40.17 on Monday. The company has a fifty day moving average of $42.45 and a 200 day moving average of $42.80. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $12.60 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.89 and a beta of 2.24.

MGM Resorts International (NYSE:MGMGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business posted $0.44 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, research analysts predict that MGM Resorts International will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MGM. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. JMP Securities lifted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Monday, May 6th. Mizuho lifted their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

View Our Latest Research Report on MGM Resorts International

Insiders Place Their Bets

In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 333,688 shares of company stock worth $14,300,967. 2.83% of the stock is currently owned by corporate insiders.

About MGM Resorts International

(Free Report)

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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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