3 days Ago By ABMN Staff
Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International ( NYSE:MGM – Free Report ) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,101 shares of the company’s stock, valued at approximately $49,000. Other hedge funds also recently made changes to their positions in the company.
Westfield Capital Management Co. LP lifted its position in shares of MGM Resorts International by 21.0% in the fourth quarter.
Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock valued at $107,295,000 after buying an additional 416,911 shares during the last quarter. Gateway Investment Advisers LLC lifted its holdings in MGM Resorts International by 41.
2% during the 1st quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock worth $465,000 after purchasing an additional 2,872 shares during the last quarter. ACR Alpine Capital Research LLC acquired a new stake in MGM Resorts International during the 1st quarter worth approximately $3,922,000.
Fisher Asset Management LLC lifted its holdings in MGM Resorts International by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after purchasing an additional 213,528 shares during the last quarter.
Finally, Texas Permanent School Fund Corp lifted its holdings in MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares during the last quarter.
68.11% of the stock is owned by institutional investors and hedge funds. Wall Street Analyst Weigh In MGM has been the subject of several research reports.
Wells Fargo & Company dropped their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st.
Macquarie dropped their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd.
Stifel Nicolaus lifted their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st.
JMP Securities dropped their price target on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, August 1st.
Finally, Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st.
Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.
93. MGM Resorts International Trading Up 1.7 % Shares of MGM opened at $36.
51 on Monday. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.
24. The business’s fifty day moving average is $39.67 and its 200-day moving average is $41.
39. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.
42 and a current ratio of 1.47. The firm has a market cap of $11.
45 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.64 and a beta of 2.
22. MGM Resorts International ( NYSE:MGM – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.
86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20.
The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion.
MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%.
MGM Resorts International’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.
59 EPS. Equities analysts anticipate that MGM Resorts International will post 2.68 EPS for the current fiscal year.
Insider Buying and Selling In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $34.
00 per share, for a total transaction of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166.
The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink . In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Monday, August 5th.
The shares were purchased at an average price of $34.00 per share, for a total transaction of $340,000.00.
Following the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink . Also, Director Paul J.
Salem purchased 147,500 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.
00. Following the transaction, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. The disclosure for this purchase can be found here .
Insiders have bought 216,400 shares of company stock worth $7,312,197 in the last 90 days. Insiders own 2.13% of the company’s stock.
MGM Resorts International Profile ( 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.
Further Reading Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International ( NYSE:MGM – Free Report ). Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.
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