Wells Fargo & Company MN Purchases 198,449 Shares of MGM Resorts International (NYSE:MGM)

Wells Fargo & Company MN increased its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,910,828 shares of the company's stock after acquiring an additional 198,449 shares during the period. Wells Fargo & Company MN owned approximately 0.64% of MGM Resorts International worth $66,210,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at approximately $28,000. Assetmark Inc. raised its stake in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after acquiring an additional 411 shares during the period. Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares in the last quarter. Modus Advisors LLC acquired a new stake in MGM Resorts International during the 4th quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC increased its holdings in MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after purchasing an additional 633 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

MGM Resorts International stock traded up $0.40 during mid-day trading on Monday, hitting $29.75. 724,503 shares of the company's stock traded hands, compared to its average volume of 4,567,690. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26. The company has a market cap of $8.42 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The firm has a 50 day moving average price of $32.64 and a 200 day moving average price of $35.23. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results 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 4.33% and a return on equity of 21.08%. On average, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Friday, February 14th. Jefferies Financial Group reduced their price target 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. Stifel Nicolaus lifted their price target 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. Finally, Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, MGM Resorts International has a consensus rating of "Moderate Buy" and a consensus price target of $51.29.

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.