MGM Resorts International (NYSE:MGM) Shares Acquired by Mirador Capital Partners LP

Mirador Capital Partners LP lifted its stake in MGM Resorts International (NYSE:MGM) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,974 shares of the company’s stock after purchasing an additional 2,187 shares during the quarter. Mirador Capital Partners LP’s holdings in MGM Resorts International were worth $3,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of MGM Resorts International during the 4th quarter worth about $45,000. Massmutual Trust Co. FSB ADV increased its stake 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 valued at $49,000 after acquiring an additional 367 shares during the period. Sandy Spring Bank raised 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 valued at $51,000 after purchasing an additional 288 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MGM has been the subject of several analyst reports. Barclays raised their target price on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JMP Securities boosted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Monday, May 6th. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Morgan Stanley upped their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.83.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction 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 directly owns 5,859,478 shares in the company, valued at $236,957,290.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares of the company’s stock, valued at approximately $215,355. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International 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 completion of 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. In the last three months, insiders sold 147,988 shares of company stock valued at $5,991,759. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Trading Down 0.6 %

MGM traded down $0.28 during mid-day trading on Monday, hitting $44.16. The stock had a trading volume of 137,121 shares, compared to its average volume of 3,780,591. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 0.93 and a beta of 2.24. 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 stock’s fifty day simple moving average is $40.87 and its 200-day simple moving average is $42.89.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, research analysts forecast that MGM Resorts International will post 3.02 EPS for the current fiscal year.

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.