MGM Resorts International (NYSE:MGM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of MGM Resorts International (NYSE:MGM) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,283,110 shares of the company’s stock after acquiring an additional 38,749 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of MGM Resorts International worth $79,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its holdings in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Goldentree Asset Management LP grew its holdings in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after acquiring an additional 123,124 shares in the last quarter. Finally, FMR LLC grew its holdings in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after acquiring an additional 79,486 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.5 %

Shares of MGM Resorts International stock opened at $31.86 on Tuesday. The company has a market cap of $9.10 billion, a P/E ratio of 13.27, a PEG ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. The firm has a fifty day moving average of $34.40 and a two-hundred day moving average of $36.48.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Stifel Nicolaus boosted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Macquarie restated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.