Global Trust Asset Management LLC Makes New Investment in MGM Resorts International (NYSE:MGM)

Global Trust Asset Management LLC acquired a new stake in MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 818 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quent Capital LLC grew its position in MGM Resorts International by 14.6% in the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after purchasing an additional 304 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after buying an additional 309 shares in the last quarter. Lazari Capital Management Inc. grew its position in MGM Resorts International by 6.3% during the second quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company’s stock worth $250,000 after buying an additional 333 shares in the last quarter. Ballentine Partners LLC raised its holdings in MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after acquiring an additional 333 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of MGM Resorts International by 0.8% in the 2nd quarter. ProShare Advisors LLC now owns 57,876 shares of the company’s stock worth $2,572,000 after acquiring an additional 431 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.6 %

Shares of NYSE MGM opened at $32.81 on Thursday. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The firm’s 50-day simple moving average is $35.32 and its 200 day simple moving average is $37.90. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 3.11 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $0.64 earnings per share. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 2.41 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Barclays dropped their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Jefferies Financial Group dropped their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International 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.