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

Signaturefd LLC lifted its holdings in shares of MGM Resorts International (NYSE:MGM) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,049 shares of the company’s stock after acquiring an additional 425 shares during the period. Signaturefd LLC’s holdings in MGM Resorts International were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Lindbrook Capital LLC increased its position in shares of MGM Resorts International by 12.9% during the fourth quarter. Lindbrook Capital LLC now owns 3,282 shares of the company’s stock valued at $147,000 after acquiring an additional 375 shares during the last quarter. abrdn plc increased its position in MGM Resorts International by 45.4% in the fourth quarter. abrdn plc now owns 126,372 shares of the company’s stock worth $5,646,000 after buying an additional 39,438 shares during the last quarter. Greenleaf Trust increased its position in MGM Resorts International by 7.3% in the fourth quarter. Greenleaf Trust now owns 11,627 shares of the company’s stock worth $519,000 after buying an additional 794 shares during the last quarter. RIA Advisory Group LLC purchased a new stake in MGM Resorts International in the fourth quarter worth $83,000. Finally, Kellett Wealth Advisors LLC purchased a new stake in MGM Resorts International in the fourth quarter worth $228,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank Of America (Bofa) raised their target price on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft raised their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target for the company. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $55.34.

MGM Resorts International Stock Performance

MGM stock opened at $42.85 on Wednesday. The stock has a market capitalization of $13.58 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The stock’s 50 day simple moving average is $43.81 and its 200 day simple moving average is $42.05.

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

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were 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 in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Company 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.