Victory Capital Management Inc. Boosts Stock Position in MGM Resorts International (NYSE:MGM)

Victory Capital Management Inc. raised its position in MGM Resorts International (NYSE:MGM) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,385 shares of the company’s stock after purchasing an additional 4,745 shares during the period. Victory Capital Management Inc.’s holdings in MGM Resorts International were worth $4,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the second quarter valued at $28,000. Eastern Bank purchased a new stake in MGM Resorts International in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of MGM Resorts International in the second quarter worth approximately $49,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 0.6 %

MGM opened at $37.80 on Friday. The firm has a 50 day simple moving average of $38.61 and a 200 day simple moving average of $39.74. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.66 and a beta of 2.23. 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 (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MGM. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Mizuho decreased their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. 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 research report on Thursday, August 1st. Finally, Macquarie dropped their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.15.

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.