MGM Resorts International (NYSE:MGM) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in MGM Resorts International (NYSE:MGM) by 11.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,114 shares of the company’s stock after purchasing an additional 1,071 shares during the period. Avantax Advisory Services Inc.’s holdings in MGM Resorts International were worth $350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in MGM Resorts International by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after purchasing an additional 38,749 shares in the last quarter. Goldentree Asset Management LP raised its holdings in MGM Resorts International by 86.4% during the third 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 in the last quarter. ACR Alpine Capital Research LLC grew its holdings in MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after acquiring an additional 30,605 shares during the period. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $2,010,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MGM shares. Wells Fargo & Company boosted their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Mizuho lifted their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Citigroup raised their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Susquehanna Bancshares lifted their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Price Performance

Shares of MGM opened at $32.45 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a fifty day moving average price of $34.02 and a 200 day moving average price of $36.04. The company has a market cap of $9.27 billion, a P/E ratio of 13.52, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 12 month low of $29.99 and a 12 month high of $48.25.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 EPS 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%. On average, research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

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.