4,583 Shares in MGM Resorts International (NYSE:MGM) Purchased by Savant Capital LLC

Savant Capital LLC purchased a new stake in MGM Resorts International (NYSE:MGM) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,583 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of MGM Resorts International by 60.8% in the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock valued at $11,856,000 after purchasing an additional 121,947 shares in the last quarter. Brown Advisory Inc. lifted its stake in MGM Resorts International by 1.3% during the 3rd quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock valued at $854,000 after acquiring an additional 309 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in MGM Resorts International by 24.1% during the 3rd quarter. Lindbrook Capital LLC now owns 2,907 shares of the company’s stock worth $107,000 after acquiring an additional 565 shares during the last quarter. Strs Ohio grew its stake in shares of MGM Resorts International by 6.5% in the 3rd quarter. Strs Ohio now owns 36,351 shares of the company’s stock worth $1,336,000 after acquiring an additional 2,210 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in shares of MGM Resorts International by 4.6% in the third quarter. IFM Investors Pty Ltd now owns 61,395 shares of the company’s stock valued at $2,257,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Macquarie restated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Barclays boosted their target price on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities increased their price target on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research report on Monday. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Thursday, May 2nd. Finally, Morgan Stanley upped their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

MGM Resorts International Stock Performance

NYSE MGM opened at $40.64 on Wednesday. The firm has a market cap of $12.75 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The company’s 50 day moving average is $43.48 and its 200-day moving average is $42.40. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. Sell-side analysts predict that MGM Resorts International will post 2.76 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.83% of the stock is currently owned by corporate insiders.

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.