Lindbrook Capital LLC Raises Stock Holdings in MGM Resorts International (NYSE:MGM)

Lindbrook Capital LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,282 shares of the company’s stock after acquiring an additional 375 shares during the period. Lindbrook Capital LLC’s holdings in MGM Resorts International were worth $147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MGM. CVA Family Office LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth about $28,000. Sandy Spring Bank boosted its stake in shares of MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares during the period. Park Place Capital Corp boosted its stake in shares of MGM Resorts International by 618.1% in the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after acquiring an additional 853 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM opened at $42.85 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The business has a 50 day simple moving average of $43.81 and a 200-day simple moving average of $42.05. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm 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 issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the company earned $0.69 EPS. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts forecast that MGM Resorts International will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MGM shares. Bank Of America (Bofa) upped their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Barclays dropped their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Morgan Stanley increased their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.34.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by corporate insiders.

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.