Signature Estate & Investment Advisors LLC Buys New Stake in MGM Resorts International (NYSE:MGM)

Signature Estate & Investment Advisors LLC purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,937 shares of the company’s stock, valued at approximately $275,000.

Several other institutional investors and hedge funds also recently modified their holdings of MGM. American Century Companies Inc. lifted its stake in shares of MGM Resorts International by 1.9% in the 4th quarter. American Century Companies Inc. now owns 38,941 shares of the company’s stock worth $1,349,000 after acquiring an additional 708 shares during the period. Virtu Financial LLC raised its holdings in MGM Resorts International by 5.0% during the fourth quarter. Virtu Financial LLC now owns 17,215 shares of the company’s stock worth $596,000 after purchasing an additional 814 shares in the last quarter. Quantbot Technologies LP lifted its position in MGM Resorts International by 110.5% in the fourth quarter. Quantbot Technologies LP now owns 136,433 shares of the company’s stock worth $4,727,000 after purchasing an additional 71,627 shares during the period. Blueshift Asset Management LLC boosted its stake in MGM Resorts International by 26.4% during the 4th quarter. Blueshift Asset Management LLC now owns 32,151 shares of the company’s stock valued at $1,114,000 after purchasing an additional 6,715 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its position in shares of MGM Resorts International by 19.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 114,666 shares of the company’s stock valued at $3,973,000 after purchasing an additional 18,419 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.6 %

MGM stock opened at $31.61 on Friday. The company has a 50 day moving average of $33.95 and a two-hundred day moving average of $35.96. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.25. 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 (NYSE:MGM) last released its quarterly earnings data 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 return on equity of 21.08% and a net margin of 4.33%. On average, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Capital One Financial lifted their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Argus upgraded shares of 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. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.29.

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.