International Assets Investment Management LLC Purchases 43,003 Shares of MGM Resorts International (NYSE:MGM)

International Assets Investment Management LLC increased its position in shares of MGM Resorts International (NYSE:MGM) by 6,902.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,626 shares of the company’s stock after acquiring an additional 43,003 shares during the period. International Assets Investment Management LLC’s holdings in MGM Resorts International were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MGM. EverSource Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. Eastern Bank acquired a new stake in MGM Resorts International in the third quarter valued at about $35,000. UMB Bank n.a. grew its position in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in MGM Resorts International in the second quarter valued at about $49,000. Finally, Blue Trust Inc. raised its stake in MGM Resorts International by 120.6% during the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after acquiring an additional 737 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

MGM stock opened at $36.41 on Monday. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.42 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $38.41 and a 200-day moving average price of $40.15. The firm has a market cap of $10.84 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 0.94 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that MGM Resorts International will post 2.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MGM. Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Macquarie lowered their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Mizuho cut their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.15.

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.