Southeast Asset Advisors Inc. acquired a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 18,908 shares of the company's stock, valued at approximately $845,000.
Other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company's stock valued at $49,000 after buying an additional 367 shares during the period. Sandy Spring Bank lifted its holdings in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company's stock valued at $51,000 after buying an additional 288 shares during the period. Sunbelt Securities Inc. increased its stake in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company's stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new position in MGM Resorts International in the 4th quarter valued at approximately $83,000. 68.11% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on MGM shares. JPMorgan Chase & Co. raised their price objective on MGM Resorts International from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, May 2nd. Susquehanna raised shares of MGM Resorts International from a "neutral" rating to a "positive" rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. Mizuho raised their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Macquarie reiterated an "outperform" rating and set a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, TheStreet raised shares of MGM Resorts International from a "c+" rating to a "b-" rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.83.
Read Our Latest Stock Analysis on MGM
MGM Resorts International Stock Up 2.4 %
Shares of MGM stock traded up $0.94 during mid-day trading on Wednesday, reaching $40.38. 3,051,314 shares of the company were exchanged, compared to its average volume of 3,832,076. The company has a market capitalization of $12.66 billion, a P/E ratio of 15.44, a P/E/G ratio of 0.89 and a beta of 2.24. The business's 50 day simple moving average is $42.22 and its 200 day simple moving average is $42.80. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. Research analysts predict that MGM Resorts International will post 2.9 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Daniel J. Taylor sold 4,344 shares of the company's stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the sale, the director now directly owns 5,250 shares of the company's stock, valued at approximately $215,355. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Keith A. Meister sold 325,000 shares of the company's stock in a transaction on 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 directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel J. Taylor sold 4,344 shares of the company's stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the transaction, the director now owns 5,250 shares of the company's stock, valued at $215,355. The disclosure for this sale can be found here. Insiders sold a total of 333,688 shares of company stock valued at $14,300,967 in the last ninety days. Corporate insiders own 2.83% of the company's stock.
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.
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