Keating Wealth Management LLC Buys Shares of 12,347 MGM Resorts International (NYSE:MGM)

Keating Wealth Management LLC bought a new position in MGM Resorts International (NYSE:MGMFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,347 shares of the company’s stock, valued at approximately $552,000. MGM Resorts International comprises approximately 0.4% of Keating Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also bought and sold shares of MGM. Tyler Stone Wealth Management bought a new position in shares of MGM Resorts International during the second quarter valued at $26,000. Mendota Financial Group LLC bought a new position in shares of MGM Resorts International in the third quarter worth approximately $27,000. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International during the third quarter valued at approximately $28,000. ICA Group Wealth Management LLC purchased a new position in MGM Resorts International in the 4th quarter worth approximately $28,000. Finally, ST Germain D J Co. Inc. bought a new position in MGM Resorts International in the 2nd quarter valued at approximately $31,000. 66.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGM has been the topic of several research analyst reports. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Truist Financial reissued a “buy” rating and set a $55.00 price target on shares of MGM Resorts International in a report on Tuesday, December 5th. Bank Of America (Bofa) lifted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Barclays cut their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $54.90.

Read Our Latest Stock Report on MGM

MGM Resorts International Stock Performance

NYSE:MGM opened at $44.47 on Friday. The stock has a 50-day moving average price of $43.37 and a 200 day moving average price of $41.14. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The stock has a market capitalization of $14.10 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.47 and a beta of 2.18.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its 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. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. MGM Resorts International’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.53 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by insiders.

About MGM Resorts International

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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