MGM Resorts International (NYSE:MGM) Stake Raised by Commerzbank Aktiengesellschaft FI

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Commerzbank Aktiengesellschaft FI increased its holdings in MGM Resorts International (NYSE:MGM) by 91.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,085 shares of the company’s stock after acquiring an additional 87,246 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in MGM Resorts International were worth $5,075,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MGM. Advisor Partners LLC raised its stake in shares of MGM Resorts International by 12.5% during the 3rd quarter. Advisor Partners LLC now owns 10,068 shares of the company’s stock worth $279,000 after purchasing an additional 1,118 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $539,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of MGM Resorts International by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,621 shares of the company’s stock worth $1,098,000 after purchasing an additional 1,684 shares in the last quarter. DNB Asset Management AS raised its stake in shares of MGM Resorts International by 1.4% during the 3rd quarter. DNB Asset Management AS now owns 52,813 shares of the company’s stock worth $1,464,000 after purchasing an additional 753 shares in the last quarter. Finally, Triangle Securities Wealth Management purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $923,000. 82.62% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on MGM. Nomura raised their price target on MGM Resorts International from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Bank of America downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Citigroup started coverage on MGM Resorts International in a report on Wednesday, July 24th. They set a $23.00 price objective on the stock. Finally, Argus increased their price objective on MGM Resorts International to $35.00 and gave the company a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.20.

Shares of NYSE MGM opened at $27.87 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.69 and a current ratio of 0.73. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 3.56 and a beta of 1.48. The business’s 50-day simple moving average is $28.06 and its 200-day simple moving average is $27.70. MGM Resorts International has a 52 week low of $21.61 and a 52 week high of $31.68.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a net margin of 1.56% and a return on equity of 3.77%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. As a group, equities research analysts forecast that MGM Resorts International will post 0.82 earnings per share for the current year.

In other MGM Resorts International news, Director Mary Christine Gay sold 5,200 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $29.20, for a total value of $151,840.00. Following the sale, the director now owns 17,716 shares of the company’s stock, valued at approximately $517,307.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rose Mckinney-James sold 2,670 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total value of $75,160.50. Following the completion of the sale, the director now directly owns 4,616 shares in the company, valued at approximately $129,940.40. The disclosure for this sale can be found here. Corporate insiders own 3.47% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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