MGM Resorts International (NYSE:MGM) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC grew its stake in shares of MGM Resorts International (NYSE:MGM) by 18.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,487 shares of the company’s stock after purchasing an additional 855 shares during the period. Ballentine Partners LLC’s holdings in MGM Resorts International were worth $259,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MGM. CVA Family Office LLC acquired a new position in MGM Resorts International during the fourth quarter worth about $28,000. Sunbelt Securities Inc. increased its stake in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. Accent Capital Management LLC acquired a new position in MGM Resorts International during the fourth quarter worth $45,000. Massmutual Trust Co. FSB ADV boosted its position in MGM Resorts International by 49.7% during 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 in the last quarter. Finally, Sandy Spring Bank grew its holdings in MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the sale, the director now owns 5,250 shares in the company, valued at $215,355. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,988 shares of company stock worth $5,991,759. Company insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Down 1.2 %

Shares of NYSE MGM opened at $41.96 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $13.16 billion, a PE ratio of 16.14, a P/E/G ratio of 0.91 and a beta of 2.24. The firm has a fifty day moving average of $40.80 and a 200-day moving average of $42.89. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its quarterly 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. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities lifted their price target on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday, May 6th. Barclays increased their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and upped their target price for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Mizuho upped their price objective on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $54.83.

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.