Kestra Private Wealth Services LLC Boosts Holdings in MGM Resorts International (NYSE:MGM)

Kestra Private Wealth Services LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,337 shares of the company’s stock after acquiring an additional 916 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in MGM Resorts International were worth $601,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Eastern Bank purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $35,000. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $44,000. Finally, Planning Capital Management Corp purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $45,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Down 1.4 %

Shares of NYSE MGM opened at $39.82 on Friday. The company has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $36.77. The company has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. On average, equities research analysts predict that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’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 transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MGM has been the topic of several recent analyst reports. Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Citigroup upped their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Macquarie restated an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday. Finally, Morgan Stanley upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

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.