Atria Investments Inc Raises Stock Position in MGM Resorts International (NYSE:MGM)

Atria Investments Inc grew its holdings in MGM Resorts International (NYSE:MGM) by 7.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 39,909 shares of the company’s stock after acquiring an additional 2,671 shares during the period. Atria Investments Inc’s holdings in MGM Resorts International were worth $1,383,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. HG Vora Capital Management LLC purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $97,725,000. Goldentree Asset Management LP lifted its holdings in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of MGM Resorts International during the third quarter worth $17,622,000. ArrowMark Colorado Holdings LLC grew its stake in MGM Resorts International by 207.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after acquiring an additional 442,975 shares in the last quarter. Finally, KBC Group NV increased its holdings in MGM Resorts International by 3,041.1% in the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after acquiring an additional 375,693 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $31.31 on Wednesday. The stock has a 50 day moving average price of $34.35 and a 200 day moving average price of $36.44. MGM Resorts International has a 52-week low of $30.69 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The firm has a market capitalization of $8.94 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MGM has been the subject of several research reports. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Leerink Partners cut MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Morgan Stanley raised their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Finally, Capital One Financial upped their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Company 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.