UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Holdings in MGM Resorts International $MGM

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in MGM Resorts International (NYSE:MGM) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,985,513 shares of the company’s stock after purchasing an additional 5,407 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.73% of MGM Resorts International worth $58,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Vontobel Holding Ltd. raised its position in shares of MGM Resorts International by 74.6% in the 1st quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company’s stock worth $646,000 after purchasing an additional 9,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in MGM Resorts International by 60.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company’s stock worth $1,830,000 after buying an additional 23,234 shares in the last quarter. Achmea Investment Management B.V. increased its holdings in MGM Resorts International by 46.3% in the 1st quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company’s stock worth $1,045,000 after buying an additional 11,152 shares in the last quarter. Osborne Partners Capital Management LLC increased its holdings in MGM Resorts International by 4.1% in the 1st quarter. Osborne Partners Capital Management LLC now owns 326,197 shares of the company’s stock worth $9,668,000 after buying an additional 12,833 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in MGM Resorts International by 3.7% in the 1st quarter. D.A. Davidson & CO. now owns 303,470 shares of the company’s stock worth $8,995,000 after buying an additional 10,690 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 2.3%

MGM stock opened at $34.54 on Monday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $42.53. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The stock has a market cap of $9.40 billion, a P/E ratio of 18.98, a PEG ratio of 1.46 and a beta of 1.69. The business’s 50-day moving average price is $37.06 and its 200-day moving average price is $33.71.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director directly owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. The trade was a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citizens Jmp downgraded MGM Resorts International from an “outperform” rating to a “market perform” rating in a report on Thursday, June 26th. Barclays lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. JMP Securities reiterated a “market perform” rating on shares of MGM Resorts International in a report on Thursday, June 26th. Morgan Stanley lifted their price objective on MGM Resorts International from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Mizuho reduced their price objective on MGM Resorts International from $59.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.67.

MGM Resorts International 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.