MGM Resorts International (NYSE:MGM) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in shares of MGM Resorts International (NYSE:MGM) by 56.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,616 shares of the company’s stock after purchasing an additional 5,272 shares during the period. Jones Financial Companies Lllp’s holdings in MGM Resorts International were worth $506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International during the third quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth $28,000. Brooklyn Investment Group purchased a new position in MGM Resorts International in the third quarter valued at about $44,000. Planning Capital Management Corp purchased a new stake in MGM Resorts International during the third quarter worth $45,000. Finally, Global Retirement Partners LLC grew its stake in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM opened at $31.86 on Tuesday. MGM Resorts International has a 1-year low of $30.69 and a 1-year high of $48.24. 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 business has a 50 day moving average price of $34.40 and a two-hundred day moving average price of $36.48. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its 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 return on equity of 21.08% and a net margin of 4.33%. Research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the business’s 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 owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly 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 insiders.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Citigroup increased their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Macquarie restated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

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.