MGM Resorts International (NYSE:MGM) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its holdings in MGM Resorts International (NYSE:MGM) by 37.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,426 shares of the company’s stock after purchasing an additional 5,611 shares during the period. Vontobel Holding Ltd.’s holdings in MGM Resorts International were worth $798,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 237 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after purchasing an additional 245 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after purchasing an additional 293 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of MGM Resorts International by 1.3% in the first quarter. US Bancorp DE now owns 23,558 shares of the company’s stock valued at $1,112,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, CEO William Hornbuckle bought 58,900 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Paul J. Salem acquired 147,500 shares of the stock in a transaction on Monday, August 5th. The stock was bought at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Hornbuckle acquired 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the purchase, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 216,400 shares of company stock worth $7,312,197 in the last 90 days. 2.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna boosted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, 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. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.57.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $41.19 on Monday. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The stock has a market capitalization of $12.92 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The business has a 50 day simple moving average of $38.19 and a 200-day simple moving average of $40.50.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. MGM Resorts International’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities analysts predict that MGM Resorts International will post 2.55 earnings per share 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.