CreativeOne Wealth LLC Raises Position in MGM Resorts International (NYSE:MGM)

CreativeOne Wealth LLC lifted its stake in MGM Resorts International (NYSE:MGM) by 15.7% in the first quarter, HoldingsChannel.com reports. The fund owned 12,592 shares of the company’s stock after purchasing an additional 1,711 shares during the period. CreativeOne Wealth LLC’s holdings in MGM Resorts International were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. HB Wealth Management LLC bought a new stake in MGM Resorts International during the fourth quarter valued at approximately $200,000. CVA Family Office LLC bought a new stake in MGM Resorts International during the fourth quarter valued at approximately $28,000. Kingswood Wealth Advisors LLC grew its position in MGM Resorts International by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after buying an additional 292 shares during the period. Assenagon Asset Management S.A. grew its position in MGM Resorts International by 30.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 87,163 shares of the company’s stock valued at $3,894,000 after buying an additional 20,583 shares during the period. Finally, Schechter Investment Advisors LLC boosted its position in shares of MGM Resorts International by 71.7% in the fourth quarter. Schechter Investment Advisors LLC now owns 14,448 shares of the company’s stock worth $646,000 after purchasing an additional 6,032 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 4,344 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares of the company’s stock, valued at $215,355. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock valued at $5,991,759. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Up 0.8 %

MGM Resorts International stock traded up $0.34 during midday trading on Friday, hitting $41.78. 1,662,048 shares of the company’s stock were exchanged, compared to its average volume of 3,706,365. 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 12 month low of $34.12 and a 12 month high of $51.35. The firm has a 50-day moving average of $42.01 and a two-hundred day moving average of $42.87. The company has a market cap of $13.11 billion, a PE ratio of 15.94, a P/E/G ratio of 0.88 and a beta of 2.24.

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, topping the consensus estimate of $0.56 by $0.18. The company 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 firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. As a group, analysts expect that MGM Resorts International will post 3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MGM shares. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $56.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. BTIG Research began coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 target price on the stock. Finally, JMP Securities boosted their target price on shares of MGM Resorts International from $58.00 to $59.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.66.

MGM Resorts International Company Profile

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.