Strategic Financial Concepts LLC Acquires Shares of 10,476 MGM Resorts International (NYSE:MGM)

Strategic Financial Concepts LLC purchased a new position in MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,476 shares of the company's stock, valued at approximately $363,000.

Other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International in the third quarter worth approximately $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $45,000. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated 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 transaction, the director now directly owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $0.56 on Friday, reaching $39.82. The company's stock had a trading volume of 6,451,467 shares, compared to its average volume of 4,507,628. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a market cap of $11.85 billion, a P/E ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. The company has a 50-day simple moving average of $34.38 and a 200 day simple moving average of $36.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Morgan Stanley raised their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and an average target price of $51.47.

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.