MGM Resorts International (NYSE:MGM) Shares Bought by Atria Investments Inc

Atria Investments Inc grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 37,238 shares of the company’s stock after buying an additional 1,300 shares during the period. Atria Investments Inc’s holdings in MGM Resorts International were worth $1,456,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Boston Partners raised its stake in shares of MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after buying an additional 684,676 shares in the last quarter. Bamco Inc. NY raised its stake in shares of MGM Resorts International by 3.6% in the 1st quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock worth $99,191,000 after buying an additional 73,515 shares in the last quarter. Marshall Wace LLP raised its stake in shares of MGM Resorts International by 174.8% in the 2nd 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 in the last quarter. Key Colony Management LLC raised its stake in shares of 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 bought a new stake in shares of MGM Resorts International in the 1st quarter worth $35,726,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions 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 stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on MGM shares. Morgan Stanley boosted their price objective on 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. Macquarie cut their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Susquehanna boosted their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on 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. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.15.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $37.27 on Friday. The business’s 50-day moving average price is $38.44 and its two-hundred day moving average price is $39.81. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a market capitalization of $11.10 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.71 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last issued its 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 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 analysts’ expectations of $4.21 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

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.