Commerce Bank Has $894,000 Stake in MGM Resorts International (NYSE:MGM)

Commerce Bank boosted its position in MGM Resorts International (NYSE:MGM) by 40.7% in the third quarter, Holdings Channel.com reports. The firm owned 22,864 shares of the company’s stock after purchasing an additional 6,610 shares during the quarter. Commerce Bank’s holdings in MGM Resorts International were worth $894,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC acquired a new stake in MGM Resorts International during the 1st quarter worth approximately $206,000. Advisors Asset Management Inc. raised its position in shares of MGM Resorts International by 106.8% during the first quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock worth $403,000 after acquiring an additional 4,412 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MGM Resorts International by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock worth $26,602,000 after acquiring an additional 5,968 shares during the period. Mount Yale Investment Advisors LLC boosted its holdings in MGM Resorts International by 38.4% in the first quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company’s stock valued at $396,000 after acquiring an additional 2,325 shares during the last quarter. Finally, Dynasty Wealth Management LLC acquired a new stake in MGM Resorts International during the 1st quarter valued at approximately $638,000. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGM. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Barclays cut their price target on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. JMP Securities decreased their price objective on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Performance

MGM stock opened at $37.80 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a market cap of $11.25 billion, a PE ratio of 13.50, a P/E/G ratio of 2.71 and a beta of 2.23. The business has a 50 day moving average of $38.64 and a 200-day moving average of $39.71. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that MGM Resorts International will post 2.5 earnings per share for the current year.

MGM Resorts International 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.