N.E.W. Advisory Services LLC Boosts Stake in MGM Resorts International (NYSE:MGM)

N.E.W. Advisory Services LLC raised its position in shares of MGM Resorts International (NYSE:MGM) by 25.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,886 shares of the company’s stock after buying an additional 1,575 shares during the quarter. N.E.W. Advisory Services LLC’s holdings in MGM Resorts International were worth $352,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Davis Selected Advisers bought a new position in MGM Resorts International during the third quarter valued at $361,915,000. Boston Partners lifted its stake in MGM Resorts International by 1,447.6% in the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after purchasing an additional 3,723,659 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after buying an additional 1,686,267 shares during the period. Invesco Ltd. grew its stake in shares of MGM Resorts International by 14.6% during the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after buying an additional 500,566 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter worth approximately $13,930,000. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MGM shares. JPMorgan Chase & Co. boosted their price objective on MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Barclays boosted their price objective 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. JMP Securities upped their target price on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

MGM Resorts International Stock Down 0.9 %

MGM traded down $0.37 on Tuesday, hitting $40.64. The company had a trading volume of 3,286,391 shares, compared to its average volume of 3,922,408. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 0.95 and a beta of 2.22. The stock has a fifty day moving average price of $43.50 and a 200-day moving average price of $42.36. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. Analysts predict that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.83% of the company’s stock.

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.