Inceptionr LLC Makes New $324,000 Investment in MGM Resorts International (NYSE:MGM)

Inceptionr LLC purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,350 shares of the company's stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MGM. HG Vora Capital Management LLC acquired a new position in MGM Resorts International in the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP lifted its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MGM Resorts International during the 4th quarter worth $20,053,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $17,622,000. Finally, ArrowMark Colorado Holdings LLC raised its holdings in MGM Resorts International by 207.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company's stock valued at $25,662,000 after buying an additional 442,975 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on MGM. Leerink Partners lowered shares of MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Capital One Financial boosted their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

Remove Ads

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm'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 sale, the director now owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company's stock.

MGM Resorts International Trading Up 1.3 %

Shares of NYSE:MGM opened at $32.05 on Monday. The company has a market cap of $9.15 billion, a PE ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18. The company's 50 day moving average is $34.40 and its two-hundred day moving average is $36.48. MGM Resorts International has a 52 week low of $30.69 and a 52 week high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.