Sequoia Financial Advisors LLC Raises Stock Holdings in MGM Resorts International (NYSE:MGM)

Sequoia Financial Advisors LLC grew its position in shares of MGM Resorts International (NYSE:MGM) by 14.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,911 shares of the company’s stock after buying an additional 7,487 shares during the period. Sequoia Financial Advisors LLC’s holdings in MGM Resorts International were worth $2,007,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International during the 3rd quarter worth approximately $28,000. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the last quarter. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in MGM Resorts International during the 3rd quarter worth approximately $44,000. Finally, Planning Capital Management Corp bought a new position in MGM Resorts International during the 3rd quarter worth approximately $45,000. Institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction 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 trade represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Stock Performance

Shares of MGM opened at $31.78 on Friday. The firm has a 50-day moving average price of $34.14 and a 200 day moving average price of $36.30. The firm has a market capitalization of $9.07 billion, a PE ratio of 13.24, a P/E/G ratio of 0.98 and a beta of 2.18. 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 has a 52-week low of $29.99 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Morgan Stanley increased their price target on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Leerink Partners cut MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.