Inceptionr LLC Takes $324,000 Position in MGM Resorts International (NYSE:MGM)

Inceptionr LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 9,350 shares of the company’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empower Advisory Group LLC raised its holdings in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP increased its position in 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 acquiring an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International during the 4th quarter valued at approximately $2,010,000. ACR Alpine Capital Research LLC lifted its position in MGM Resorts International by 23.3% during the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after acquiring an additional 30,605 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of MGM Resorts International by 80.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after purchasing an additional 159,522 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGM has been the subject of several recent research reports. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Argus raised 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. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Stifel Nicolaus raised their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International 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 owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 51,000 shares of the 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 transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.

MGM Resorts International Trading Up 1.3 %

Shares of MGM stock opened at $32.05 on Monday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The firm has a 50-day moving average price of $34.40 and a 200 day moving average price of $36.48. MGM Resorts International has a twelve month low of $30.69 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating 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%. Research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.