MGM Resorts International (NYSE:MGM) Stock Holdings Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in MGM Resorts International (NYSE:MGM) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,200 shares of the company’s stock after buying an additional 309 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MGM Resorts International were worth $2,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGM. UMB Bank n.a. increased its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after buying an additional 278 shares during the last quarter. HB Wealth Management LLC raised its position in MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after acquiring an additional 293 shares in the last quarter. Quent Capital LLC lifted its stake in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after acquiring an additional 304 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Truist Financial reduced their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Barclays dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.83% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Performance

NYSE MGM opened at $37.51 on Wednesday. The company’s fifty day moving average is $38.73 and its two-hundred day moving average is $39.57. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 2.73 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

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.