Cerity Partners LLC Has $757,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Cerity Partners LLC raised its stake in MGM Resorts International (NYSE:MGM) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,925 shares of the company’s stock after purchasing an additional 822 shares during the period. Cerity Partners LLC’s holdings in MGM Resorts International were worth $757,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its stake in MGM Resorts International by 15.4% in the third quarter. CWM LLC now owns 7,382 shares of the company’s stock worth $271,000 after purchasing an additional 983 shares in the last quarter. Global Retirement Partners LLC increased its position in MGM Resorts International by 444.8% in the 3rd quarter. Global Retirement Partners LLC now owns 2,882 shares of the company’s stock valued at $101,000 after acquiring an additional 2,353 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of MGM Resorts International by 26.3% in the third quarter. Flagship Harbor Advisors LLC now owns 6,253 shares of the company’s stock worth $230,000 after acquiring an additional 1,304 shares during the last quarter. Park Place Capital Corp lifted its position in shares of MGM Resorts International by 618.1% during the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after purchasing an additional 853 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of MGM Resorts International by 15.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 120,960 shares of the company’s stock valued at $4,446,000 after buying an additional 16,389 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Up 1.0 %

NYSE MGM opened at $42.85 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The stock’s 50-day simple moving average is $43.81 and its two-hundred day simple moving average is $42.05. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.75 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. Research analysts forecast that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of recent analyst reports. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Bank Of America (Bofa) raised their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, Barclays lowered their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.83% of the company’s stock.

MGM Resorts International 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.