Fisher Asset Management LLC Buys 90,645 Shares of MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC boosted its stake in shares of MGM Resorts International (NYSE:MGM) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,547,883 shares of the company’s stock after acquiring an additional 90,645 shares during the quarter. Fisher Asset Management LLC owned about 1.53% of MGM Resorts International worth $177,777,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in shares of MGM Resorts International by 1.6% during the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock valued at $1,113,000 after buying an additional 459 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of MGM Resorts International by 50.3% during the third quarter. Centaurus Financial Inc. now owns 3,733 shares of the company’s stock valued at $146,000 after buying an additional 1,250 shares during the last quarter. Crewe Advisors LLC grew its stake in shares of MGM Resorts International by 3,000.0% during the third quarter. Crewe Advisors LLC now owns 3,100 shares of the company’s stock valued at $121,000 after buying an additional 3,000 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of MGM Resorts International by 969.0% during the third quarter. Larson Financial Group LLC now owns 2,758 shares of the company’s stock valued at $108,000 after buying an additional 2,500 shares during the last quarter. Finally, Commerce Bank grew its stake in shares of MGM Resorts International by 40.7% during the third quarter. Commerce Bank now owns 22,864 shares of the company’s stock valued at $894,000 after buying an additional 6,610 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

MGM has been the subject of a number of research reports. Morgan Stanley boosted their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their target price 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. Macquarie lowered their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company lowered their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Price Performance

NYSE MGM opened at $38.32 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’s fifty day moving average price is $38.64 and its 200 day moving average price is $39.71. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.70 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last released its 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 during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company earned $0.64 earnings per share. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% 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.