Cwm LLC Acquires 854 Shares of MGM Resorts International (NYSE:MGM)

Cwm LLC boosted its holdings in MGM Resorts International (NYSE:MGM) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,984 shares of the company’s stock after purchasing an additional 854 shares during the quarter. Cwm LLC’s holdings in MGM Resorts International were worth $429,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after purchasing an additional 245 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares during the period. HB Wealth Management LLC boosted its position in shares of MGM Resorts International by 6.3% during the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after purchasing an additional 293 shares in the last quarter. Finally, US Bancorp DE raised its stake in MGM Resorts International by 1.3% during the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock worth $1,112,000 after buying an additional 298 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Susquehanna raised their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Morgan Stanley lowered their price objective on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. BTIG Research started coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target on the stock. Finally, Stifel Nicolaus boosted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.57.

MGM Resorts International Stock Performance

NYSE MGM opened at $41.19 on Monday. The company has a market capitalization of $12.92 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a 50-day simple moving average of $38.19 and a 200 day simple moving average of $40.50.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that MGM Resorts International will post 2.55 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 38,299 shares in the company, valued at $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the purchase, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by corporate insiders.

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.