Pictet Asset Management Holding SA Purchases 6,847 Shares of MGM Resorts International (NYSE:MGM)

Pictet Asset Management Holding SA grew its position in shares of MGM Resorts International (NYSE:MGM) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,765 shares of the company’s stock after buying an additional 6,847 shares during the quarter. Pictet Asset Management Holding SA’s holdings in MGM Resorts International were worth $3,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its holdings in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after purchasing an additional 79,486 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of MGM Resorts International during the third quarter worth $259,000. Glenmede Trust Co. NA increased its stake in shares of MGM Resorts International by 37.1% in the third quarter. Glenmede Trust Co. NA now owns 7,201 shares of the company’s stock valued at $281,000 after buying an additional 1,948 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of MGM Resorts International by 1,147.4% in the third quarter. Benjamin Edwards Inc. now owns 35,789 shares of the company’s stock valued at $1,399,000 after buying an additional 32,920 shares during the last quarter. Finally, Centiva Capital LP lifted its position in MGM Resorts International by 79.0% during the 3rd quarter. Centiva Capital LP now owns 22,812 shares of the company’s stock worth $892,000 after buying an additional 10,065 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $26.86 on Friday. MGM Resorts International has a 12 month low of $25.61 and a 12 month high of $47.26. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $7.60 billion, a PE ratio of 11.19, a PEG ratio of 0.98 and a beta of 1.96. The stock’s fifty day simple moving average is $33.50 and its 200 day simple moving average is $35.70.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MGM. Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial boosted their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.29.

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.