Merit Financial Group LLC Takes Position in MGM Resorts International (NYSE:MGM)

Merit Financial Group LLC acquired a new position in shares of MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,008 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC grew its position in MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MGM Resorts International by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after buying an additional 123,124 shares during the period. Finally, FMR LLC lifted its position in MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after buying an additional 79,486 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.7 %

MGM stock opened at $32.90 on Friday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company has a fifty day moving average price of $35.15 and a 200 day moving average price of $37.75.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company posted $0.64 earnings per share. MGM Resorts International’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that MGM Resorts International will post 2.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MGM shares. Barclays reduced their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Mizuho cut their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, Jefferies Financial Group cut their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is owned by 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.