Swiss National Bank Trims Stock Holdings in MGM Resorts International (NYSE:MGM)

Swiss National Bank lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 877,800 shares of the company’s stock after selling 58,300 shares during the quarter. Swiss National Bank owned 0.26% of MGM Resorts International worth $39,220,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of MGM Resorts International by 60.8% in the 3rd quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock valued at $11,856,000 after buying an additional 121,947 shares during the period. Brown Advisory Inc. lifted its position in shares of MGM Resorts International by 1.3% during the third quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock worth $854,000 after purchasing an additional 309 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of MGM Resorts International by 24.1% in the third quarter. Lindbrook Capital LLC now owns 2,907 shares of the company’s stock valued at $107,000 after purchasing an additional 565 shares during the period. Strs Ohio boosted its stake in shares of MGM Resorts International by 6.5% in the third quarter. Strs Ohio now owns 36,351 shares of the company’s stock valued at $1,336,000 after purchasing an additional 2,210 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of MGM Resorts International by 4.6% in the third quarter. IFM Investors Pty Ltd now owns 61,395 shares of the company’s stock valued at $2,257,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’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 completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $40.64 on Wednesday. The stock’s 50-day moving average is $43.48 and its two-hundred day moving average is $42.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm has a market cap of $12.75 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.95 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Analysts predict that MGM Resorts International will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on MGM shares. JPMorgan Chase & Co. raised their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Barclays boosted their target price on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Bank Of America (Bofa) boosted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley raised their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

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.