Vanguard Personalized Indexing Management LLC Raises Stock Position in MGM Resorts International (NYSE:MGM)

Vanguard Personalized Indexing Management LLC increased its position in shares of MGM Resorts International (NYSE:MGM) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,768 shares of the company’s stock after acquiring an additional 3,255 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in MGM Resorts International were worth $1,852,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MGM. Gateway Investment Advisers LLC raised its position in shares of MGM Resorts International by 41.2% in the first quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock worth $465,000 after buying an additional 2,872 shares in the last quarter. ACR Alpine Capital Research LLC purchased a new stake in shares of MGM Resorts International in the 1st quarter valued at about $3,922,000. Fisher Asset Management LLC boosted its position in shares of MGM Resorts International by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock valued at $194,686,000 after acquiring an additional 213,528 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of MGM Resorts International by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of MGM Resorts International in the second quarter worth approximately $3,314,000. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the acquisition, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO William Hornbuckle acquired 58,900 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MGM has been the subject of several research analyst reports. Susquehanna lifted their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. JMP Securities reduced their target price on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 1st. BTIG Research started coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price target for the company. Finally, Morgan Stanley reduced their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $37.31 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The business’s 50 day simple moving average is $38.92 and its two-hundred day simple moving average is $41.21. The stock has a market capitalization of $11.70 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 0.64 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. Analysts forecast that MGM Resorts International will post 2.68 EPS for the current year.

MGM Resorts International Company 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.