Fisher Asset Management LLC Has $2.32 Million Position in MGM Resorts International $MGM

Fisher Asset Management LLC lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 43.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 67,026 shares of the company’s stock after selling 52,163 shares during the period. Fisher Asset Management LLC’s holdings in MGM Resorts International were worth $2,323,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGM. Aster Capital Management DIFC Ltd lifted its position in MGM Resorts International by 55.0% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 10,618 shares of the company’s stock worth $368,000 after buying an additional 3,766 shares in the last quarter. Waddell & Associates LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $286,000. TD Asset Management Inc increased its position in MGM Resorts International by 146.9% in the 3rd quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock valued at $3,222,000 after acquiring an additional 55,300 shares in the last quarter. Mufg Securities Americas Inc. raised its stake in shares of MGM Resorts International by 20.1% in the third quarter. Mufg Securities Americas Inc. now owns 5,505 shares of the company’s stock worth $191,000 after acquiring an additional 921 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of MGM Resorts International by 173.9% in the third quarter. EverSource Wealth Advisors LLC now owns 8,897 shares of the company’s stock worth $308,000 after acquiring an additional 5,649 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on MGM. Truist Financial increased their price target on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Stifel Nicolaus boosted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Texas Capital raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Finally, Argus lowered their target price on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Hold” and a consensus price target of $41.94.

MGM Resorts International Stock Down 4.0%

MGM Resorts International stock opened at $35.63 on Friday. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 47.51 and a beta of 1.38. The company’s 50 day simple moving average is $35.37 and its 200 day simple moving average is $34.97. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $40.16.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same quarter in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.