Evergreen Capital Management LLC Has $2.73 Million Stake in MGM Resorts International (NYSE:MGM)

Evergreen Capital Management LLC raised its stake in MGM Resorts International (NYSE:MGM) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 78,869 shares of the company’s stock after buying an additional 556 shares during the quarter. Evergreen Capital Management LLC’s holdings in MGM Resorts International were worth $2,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in MGM Resorts International in the 4th quarter valued at $88,033,000. Invesco Ltd. raised its holdings in shares of MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the last quarter. Davis Selected Advisers lifted its position in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of MGM Resorts International during the fourth quarter valued at about $20,053,000. Finally, Amundi boosted its holdings in MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company’s stock worth $27,334,000 after purchasing an additional 564,202 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $28.51 on Thursday. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The business’s fifty day moving average is $32.34 and its 200 day moving average is $35.07. 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 firm has a market cap of $8.07 billion, a price-to-earnings ratio of 11.88, 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 earnings per share (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%. Research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group reduced their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Morgan Stanley lowered their target price on MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.