Global Assets Advisory LLC Acquires New Position in MGM Resorts International (NYSE:MGM)

Global Assets Advisory LLC purchased a new position in shares of MGM Resorts International (NYSE:MGMFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,716 shares of the company’s stock, valued at approximately $695,000.

A number of other institutional investors also recently made changes to their positions in MGM. CVA Family Office LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at $28,000. Sunbelt Securities Inc. lifted its position in shares of MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Accent Capital Management LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at $45,000. Massmutual Trust Co. FSB ADV grew its holdings in MGM Resorts International by 49.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares in the last quarter. Finally, Sandy Spring Bank lifted its holdings in MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after buying an additional 288 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of analyst reports. Barclays lifted their target price on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JMP Securities upped their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Monday, May 6th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Finally, Mizuho lifted their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

View Our Latest Report on MGM Resorts International

Insider Buying and Selling

In related news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Alexis Herman sold 4,344 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders have sold a total of 147,988 shares of company stock worth $5,991,759 in the last 90 days. Corporate insiders own 2.83% of the company’s stock.

MGM Resorts International Trading Up 2.2 %

Shares of MGM Resorts International stock opened at $43.37 on Friday. The company’s fifty day moving average price is $40.83 and its two-hundred day moving average price is $42.89. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The firm has a market capitalization of $13.60 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.91 and a beta of 2.24.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts expect that MGM Resorts International will post 2.9 EPS for the current year.

About MGM Resorts International

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGMFree Report).

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.