7,937 Shares in MGM Resorts International (NYSE:MGM) Bought by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC bought a new position in MGM Resorts International (NYSE:MGM) during the 4th quarter, Holdings Channel reports. The fund bought 7,937 shares of the company’s stock, valued at approximately $275,000.

Several other institutional investors have also recently bought and sold shares of MGM. Davis Selected Advisers lifted its holdings in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after buying an additional 882,417 shares during the last quarter. Goldentree Asset Management LP raised its stake in MGM Resorts International by 86.4% during 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. HG Vora Capital Management LLC bought a new stake in MGM Resorts International in the 3rd quarter valued at $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MGM Resorts International by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after purchasing an additional 123,124 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after purchasing an additional 38,749 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGM. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Capital One Financial boosted their price objective 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. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Wedbush reissued an “outperform” rating on shares of MGM Resorts International 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Buying and Selling

In related news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Stock Down 1.6 %

Shares of MGM opened at $31.61 on Friday. The business’s 50 day simple moving average is $33.95 and its 200-day simple moving average is $35.96. MGM Resorts International has a one year low of $29.99 and a one year high of $48.25. The company has a market capitalization of $9.03 billion, a P/E ratio of 13.17, a PEG ratio of 0.98 and a beta of 2.18. 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 (NYSE:MGM) last posted its quarterly earnings data 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 return on equity of 21.08% and a net margin of 4.33%. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS 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.