Annis Gardner Whiting Capital Advisors LLC Acquires 2,104 Shares of MGM Resorts International (NYSE:MGM)

Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 8.3% during the fourth quarter, Holdings Channel reports. The firm owned 27,518 shares of the company’s stock after purchasing an additional 2,104 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in MGM Resorts International were worth $953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the fourth quarter valued at about $28,000. Assetmark Inc. raised its stake in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. Modus Advisors LLC acquired a new stake in MGM Resorts International in the 4th quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC boosted its position in MGM Resorts International by 74.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock worth $51,000 after purchasing an additional 633 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM opened at $27.86 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a 50-day moving average of $33.63 and a 200-day moving average of $35.76. MGM Resorts International has a 52 week low of $27.50 and a 52 week high of $47.45. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results 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 net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost 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. This represents a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Mizuho boosted their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Morgan Stanley raised their target price on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.