MGM Resorts International (NYSE:MGM) Holdings Lifted by Capital World Investors

Capital World Investors raised its position in MGM Resorts International (NYSE:MGM) by 0.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,554,577 shares of the company’s stock after purchasing an additional 3,267 shares during the quarter. Capital World Investors owned approximately 2.09% of MGM Resorts International worth $309,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGM. Advisors Asset Management Inc. lifted its position in shares of MGM Resorts International by 106.8% in the first quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock worth $403,000 after buying an additional 4,412 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of MGM Resorts International in the first quarter worth about $206,000. CreativeOne Wealth LLC lifted its position in shares of MGM Resorts International by 15.7% during the 1st quarter. CreativeOne Wealth LLC now owns 12,592 shares of the company’s stock worth $594,000 after purchasing an additional 1,711 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of MGM Resorts International during the 1st quarter worth about $399,000. Finally, Meritage Group LP acquired a new position in shares of MGM Resorts International during the 1st quarter worth about $327,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of several research analyst reports. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Morgan Stanley cut their price target on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. BTIG Research began coverage on MGM Resorts International in a report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target for the company. Wells Fargo & Company cut their price target on MGM Resorts International from $56.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Finally, JMP Securities upped their price objective on MGM Resorts International from $58.00 to $59.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.66.

Insider Transactions at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. 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 2.13% of the company’s stock.

MGM Resorts International Stock Up 1.0 %

NYSE MGM traded up $0.40 during trading hours on Friday, hitting $41.84. 2,738,119 shares of the company traded hands, compared to its average volume of 3,094,533. The stock has a market capitalization of $13.12 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 0.86 and a beta of 2.24. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The business’s 50-day moving average is $42.01 and its 200-day moving average is $42.87. 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 (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. Sell-side analysts anticipate that MGM Resorts International will post 3 earnings per share for the current year.

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.