Kellett Wealth Advisors LLC Buys Shares of 5,100 MGM Resorts International (NYSE:MGM)

Kellett Wealth Advisors LLC bought a new stake in MGM Resorts International (NYSE:MGM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,100 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Davis Selected Advisers purchased a new stake in MGM Resorts International during the 3rd quarter worth approximately $361,915,000. Norges Bank purchased a new stake in MGM Resorts International during the 4th quarter worth approximately $165,932,000. Boston Partners increased its stake in MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after buying an additional 3,723,659 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in MGM Resorts International by 17.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock worth $713,390,000 after buying an additional 3,098,142 shares during the period. Finally, Qube Research & Technologies Ltd increased its stake in MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after buying an additional 1,686,267 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $55.34.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.01 during trading hours on Thursday, reaching $42.04. 3,502,759 shares of the company’s stock were exchanged, compared to its average volume of 3,875,860. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.72 and a beta of 2.19. The company has a 50-day moving average of $43.99 and a 200 day moving average of $41.86. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Research analysts anticipate that MGM Resorts International will post 2.51 EPS for the current 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.