Creative Planning Purchases 6,445 Shares of MGM Resorts International (NYSE:MGM)

Creative Planning boosted its position in shares of MGM Resorts International (NYSE:MGM) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,642 shares of the company’s stock after acquiring an additional 6,445 shares during the quarter. Creative Planning’s holdings in MGM Resorts International were worth $3,184,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Goldentree Asset Management LP bought a new stake in shares of MGM Resorts International in the 1st quarter valued at about $35,726,000. Marshall Wace LLP increased its position in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares during the last quarter. Boston Partners raised its stake in MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares during the period. LSV Asset Management acquired a new stake in shares of MGM Resorts International in the second quarter valued at approximately $21,149,000. Finally, Shellback Capital LP boosted its stake in shares of MGM Resorts International by 433.3% during the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock worth $17,776,000 after acquiring an additional 325,000 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MGM shares. Macquarie reduced their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. JMP Securities reduced their price objective on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Susquehanna upped their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister sold 121,000 shares of MGM Resorts International 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 directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 216,400 shares of company stock worth $7,312,197 over the last 90 days. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

NYSE MGM opened at $40.43 on Friday. The firm’s 50 day simple moving average is $37.79 and its 200 day simple moving average is $40.91. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.68 and a beta of 2.23. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 2.63 earnings per share for the current fiscal year.

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.