First Hawaiian Bank Has $357,000 Stock Position in MGM Resorts International (NYSE:MGM)

First Hawaiian Bank boosted its holdings in MGM Resorts International (NYSE:MGM) by 17.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,555 shares of the company’s stock after buying an additional 1,113 shares during the quarter. First Hawaiian Bank’s holdings in MGM Resorts International were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGM. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Sunbelt Securities Inc. increased its holdings in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Accent Capital Management LLC bought a new position in MGM Resorts International in the fourth quarter valued at about $45,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after purchasing an additional 367 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MGM. Mizuho lifted their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley upped their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Barclays upped their target price on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Three equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Insider Activity at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,988 shares of company stock worth $5,991,759. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Up 0.7 %

MGM stock opened at $42.00 on Friday. The firm has a market capitalization of $13.17 billion, a PE ratio of 16.15, a P/E/G ratio of 0.91 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The stock’s 50 day moving average is $40.82 and its 200-day moving average is $42.84.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Sell-side analysts expect that MGM Resorts International will post 2.9 EPS for the current fiscal year.

About MGM Resorts International

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.