Proficio Capital Partners LLC Buys Shares of 59,252 MGM Resorts International (NYSE:MGM)

Proficio Capital Partners LLC bought a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 59,252 shares of the company's stock, valued at approximately $2,053,000.

Several other large investors also recently added to or reduced their stakes in MGM. Farther Finance Advisors LLC grew its holdings in MGM Resorts International by 12.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company's stock valued at $379,000 after buying an additional 1,084 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of MGM Resorts International by 4.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company's stock worth $2,776,000 after purchasing an additional 3,285 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of MGM Resorts International by 58.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 163,120 shares of the company's stock worth $6,376,000 after purchasing an additional 60,377 shares during the period. Malaga Cove Capital LLC grew its holdings in shares of MGM Resorts International by 76.2% during the 3rd quarter. Malaga Cove Capital LLC now owns 12,196 shares of the company's stock worth $477,000 after purchasing an additional 5,276 shares during the period. Finally, Olympiad Research LP purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $497,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MGM shares. Macquarie reiterated an "outperform" rating and set a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Wedbush restated an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $51.29.

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Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade 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 Stock Up 1.3 %

Shares of NYSE MGM traded up $0.41 during midday trading on Friday, hitting $32.05. 9,372,192 shares of the company's stock were exchanged, compared to its average volume of 5,181,714. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a twelve month low of $30.69 and a twelve month high of $48.24. 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 firm's fifty day simple moving average is $34.40 and its 200-day simple moving average is $36.51.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping 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%. Research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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.