MGM Resorts International $MGM Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 0.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,666 shares of the company’s stock after acquiring an additional 399 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in MGM Resorts International were worth $1,917,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its stake in shares of MGM Resorts International by 83.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 455 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of MGM Resorts International in the 1st quarter worth $43,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of MGM Resorts International by 66.9% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after buying an additional 529 shares in the last quarter. Quarry LP raised its stake in shares of MGM Resorts International by 24.1% in the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after buying an additional 349 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of MGM Resorts International by 27.5% in the 2nd quarter. UMB Bank n.a. now owns 2,061 shares of the company’s stock worth $71,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Susquehanna boosted their price objective on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Macquarie dropped their price objective on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Citigroup raised MGM Resorts International from a “hold” rating to a “strong-buy” rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Wednesday, July 9th. Mizuho increased their price target on MGM Resorts International from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on MGM Resorts International from $54.00 to $53.00 in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.50.

Insider Activity

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider directly owned 31,521 shares of the company’s stock, valued at $1,138,538.52. This represents a 65.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the transaction, the director directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. The trade was a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Down 0.7%

NYSE:MGM opened at $32.83 on Friday. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.48 and a beta of 1.67. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $42.53. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. The business’s fifty day moving average price is $35.20 and its 200 day moving average price is $34.29.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the firm posted $0.86 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

About MGM Resorts International

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.