MGM Resorts International (NYSE:MGM) Stock Position Raised by American Assets Investment Management LLC

American Assets Investment Management LLC boosted its position in shares of MGM Resorts International (NYSE:MGM) by 124.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,946 shares of the company’s stock after buying an additional 13,825 shares during the quarter. American Assets Investment Management LLC’s holdings in MGM Resorts International were worth $975,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MGM. Boston Partners lifted its position in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after purchasing an additional 684,676 shares in the last quarter. Bamco Inc. NY increased its stake in MGM Resorts International by 3.6% in the 1st quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after buying an additional 73,515 shares during the period. Marshall Wace LLP increased its stake in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after buying an additional 706,159 shares during the period. Key Colony Management LLC lifted its position in MGM Resorts International by 11.1% in the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after buying an additional 88,000 shares in the last quarter. Finally, Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International during the 1st quarter valued at $35,726,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock traded down $0.93 on Tuesday, reaching $35.79. The stock had a trading volume of 1,173,298 shares, compared to its average volume of 4,099,937. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The business’s 50-day moving average price is $38.32 and its two-hundred day moving average price is $39.90. The stock has a market cap of $10.66 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MGM shares. Morgan Stanley upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Truist Financial dropped their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Barclays cut their price objective 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.15.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.13% of the stock is owned by insiders.

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.