Highland Capital Management LLC Acquires 920 Shares of MGM Resorts International (NYSE:MGM)

Highland Capital Management LLC raised its holdings in shares of MGM Resorts International (NYSE:MGMFree Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,420 shares of the company’s stock after purchasing an additional 920 shares during the period. Highland Capital Management LLC’s holdings in MGM Resorts International were worth $4,889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MGM. Tyler Stone Wealth Management bought a new position in shares of MGM Resorts International during the second quarter valued at approximately $26,000. Mendota Financial Group LLC bought a new stake in shares of MGM Resorts International during the third quarter valued at 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. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGM. Macquarie reissued an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. JMP Securities reissued a “market outperform” rating and set a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft raised 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 report on Wednesday, February 14th. Morgan Stanley raised their price target on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Finally, TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.28.

Get Our Latest Report on MGM

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International 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 transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Up 0.3 %

Shares of MGM Resorts International stock opened at $46.60 on Thursday. The company’s fifty day simple moving average is $43.60 and its 200-day simple moving average is $41.19. The stock has a market capitalization of $14.77 billion, a PE ratio of 14.70, a P/E/G ratio of 1.54 and a beta of 2.18. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.39. The business had revenue of $4.38 billion for 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%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. As a group, equities analysts anticipate that MGM Resorts International will post 2.53 earnings per share for the current year.

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.

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

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