Strategic Financial Concepts LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,476 shares of the company's stock, valued at approximately $363,000.
A number of other large investors have also recently bought and sold shares of MGM. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $28,000. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at approximately $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $44,000. Finally, Planning Capital Management Corp acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $45,000. Institutional investors and hedge funds own 68.11% of the company's stock.
Insiders Place Their Bets
In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, 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. Company insiders own 2.13% of the company's stock.
MGM Resorts International Price Performance
Shares of NYSE MGM traded down $2.28 during mid-day trading on Friday, reaching $36.02. The company had a trading volume of 5,167,674 shares, compared to its average volume of 5,180,714. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.98 and a beta of 2.20. The business's 50-day simple moving average is $34.53 and its 200 day simple moving average is $36.80.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.
Analysts Set New Price Targets
MGM has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price target on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Citigroup increased their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Macquarie restated an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, MGM Resorts International presently has a consensus rating of "Moderate Buy" and an average target price of $51.47.
Get Our Latest Stock Analysis on MGM
About MGM Resorts International
(
Free Report)
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.
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