Fisher Asset Management LLC Has $194.19 Million Position in MGM Resorts International (NYSE:MGM)

Fisher Asset Management LLC raised its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,346,250 shares of the company's stock after acquiring an additional 202,434 shares during the period. Fisher Asset Management LLC owned approximately 1.27% of MGM Resorts International worth $194,190,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. RB Capital Management LLC grew its stake in shares of MGM Resorts International by 6.6% in the 4th quarter. RB Capital Management LLC now owns 17,040 shares of the company's stock worth $761,000 after purchasing an additional 1,060 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company's stock valued at $70,302,000 after purchasing an additional 82,134 shares during the period. Black Swift Group LLC lifted its position in shares of MGM Resorts International by 133.3% in the third quarter. Black Swift Group LLC now owns 105,000 shares of the company's stock worth $3,860,000 after purchasing an additional 60,000 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of MGM Resorts International by 122.0% during the fourth quarter. Allworth Financial LP now owns 6,843 shares of the company's stock worth $306,000 after purchasing an additional 3,760 shares during the period. Finally, Boston Partners increased its stake in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company's stock valued at $145,916,000 after buying an additional 3,723,659 shares during the period. Institutional investors own 68.11% of the company's stock.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 325,000 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.13% of the company's stock.

MGM Resorts International Stock Up 0.4 %

Shares of MGM traded up $0.17 during mid-day trading on Friday, hitting $41.04. 4,201,775 shares of the company's stock were exchanged, compared to its average volume of 3,922,888. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a market cap of $13.01 billion, a PE ratio of 15.72, a P/E/G ratio of 1.63 and a beta of 2.22. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The company has a 50-day simple moving average of $43.55 and a 200 day simple moving average of $42.21.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a return on equity of 22.97% and a net margin of 5.35%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the company posted $0.44 EPS. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts forecast that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MGM shares. StockNews.com raised MGM Resorts International from a "hold" rating to a "buy" rating in a research note on Thursday. TheStreet upgraded shares of MGM Resorts International from a "c+" rating to a "b-" rating in a report on Tuesday, February 13th. Macquarie restated an "outperform" rating and set a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Morgan Stanley boosted their price target on MGM Resorts International from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $57.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.77.

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.