Blue Trust Inc. Has $53,000 Holdings in MGM Resorts International (NYSE:MGM)

Blue Trust Inc. boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 120.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,348 shares of the company’s stock after acquiring an additional 737 shares during the quarter. Blue Trust Inc.’s holdings in MGM Resorts International were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGM. Boston Partners increased its holdings in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Bamco Inc. NY boosted its position in MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock worth $99,191,000 after purchasing an additional 73,515 shares during the period. Marshall Wace LLP increased its holdings in shares of MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Key Colony Management LLC raised its position in shares of MGM Resorts International by 11.1% in the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after purchasing an additional 88,000 shares during the period. Finally, Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International during the 1st quarter worth about $35,726,000. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of research reports. Susquehanna upped their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Barclays decreased their target price on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Morgan Stanley boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $53.15.

Insiders Place Their Bets

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

MGM Resorts International Trading Down 11.0 %

MGM opened at $36.87 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.97 and a beta of 2.23. The company has a 50-day simple moving average of $38.50 and a 200 day simple moving average of $40.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Analysts predict that MGM Resorts International will post 2.54 EPS for the current fiscal year.

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.