HighPoint Advisor Group LLC Makes New $235,000 Investment in MGM Resorts International (NYSE:MGM)

HighPoint Advisor Group LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,284 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Sunbelt Securities Inc. grew its stake in shares of MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth $45,000. Massmutual Trust Co. FSB ADV grew its stake in shares of MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter. Finally, Sandy Spring Bank grew its stake in shares of MGM Resorts International by 33.7% in 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.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. Mizuho boosted their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities boosted their target price on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. Finally, Barclays boosted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

MGM Resorts International Trading Up 0.7 %

NYSE:MGM opened at $42.00 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a 50-day moving average of $40.82 and a 200-day moving average of $42.82. The company has a market cap of $13.17 billion, a PE ratio of 16.15, a PEG ratio of 0.88 and a beta of 2.24. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts expect that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insider Activity

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

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.