Savant Capital LLC Acquires Shares of 4,583 MGM Resorts International (NYSE:MGM)

Savant Capital LLC bought a new position in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,583 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also modified their holdings of MGM. Raymond James & Associates lifted its holdings in shares of MGM Resorts International by 60.8% during the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock valued at $11,856,000 after acquiring an additional 121,947 shares during the period. Brown Advisory Inc. lifted its holdings in MGM Resorts International by 1.3% during the 3rd quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock valued at $854,000 after purchasing an additional 309 shares during the last quarter. Lindbrook Capital LLC boosted its position in MGM Resorts International by 24.1% in the third quarter. Lindbrook Capital LLC now owns 2,907 shares of the company’s stock valued at $107,000 after buying an additional 565 shares in the last quarter. Strs Ohio grew its stake in MGM Resorts International by 6.5% during the third quarter. Strs Ohio now owns 36,351 shares of the company’s stock worth $1,336,000 after buying an additional 2,210 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of MGM Resorts International by 4.6% during the third quarter. IFM Investors Pty Ltd now owns 61,395 shares of the company’s stock worth $2,257,000 after buying an additional 2,700 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

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 transaction of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Down 0.9 %

MGM Resorts International stock opened at $40.64 on Wednesday. The firm has a market capitalization of $12.75 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 0.95 and a beta of 2.22. The company’s 50 day simple moving average is $43.48 and its 200 day simple moving average is $42.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MGM. StockNews.com upgraded MGM Resorts International from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Macquarie restated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, Morgan Stanley upped their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.83.

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.