UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 123,124 Shares of MGM Resorts International (NYSE:MGM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MGM Resorts International (NYSE:MGM) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,298,094 shares of the company’s stock after buying an additional 123,124 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.77% of MGM Resorts International worth $89,832,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MGM. Marshall Wace LLP increased its holdings in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares during the last quarter. Maverick Capital Ltd. purchased a new position in MGM Resorts International during the second quarter valued at approximately $1,211,000. Empower Advisory Group LLC increased its holdings in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Wedge Capital Management L L P NC bought a new position in MGM Resorts International in the 2nd quarter worth about $3,314,000. Finally, American Assets Capital Advisers LLC increased its position in shares of MGM Resorts International by 135.0% in the third quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company’s stock worth $18,355,000 after purchasing an additional 269,761 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of research reports. Truist Financial lowered their price target 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. Wells Fargo & Company dropped 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 research report on Thursday, October 17th. JMP Securities reduced their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Stock Down 0.2 %

MGM stock opened at $38.27 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $11.39 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.74 and a beta of 2.23. The business has a fifty day moving average price of $38.70 and a 200-day moving average price of $39.59. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results 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). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Equities analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.13% of the stock is owned by corporate insiders.

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.