Kingswood Wealth Advisors LLC Buys 292 Shares of MGM Resorts International (NYSE:MGM)

Kingswood Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,587 shares of the company’s stock after purchasing an additional 292 shares during the period. Kingswood Wealth Advisors LLC’s holdings in MGM Resorts International were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGM. RB Capital Management LLC increased its holdings in shares of MGM Resorts International by 29.1% during the first quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock worth $327,000 after buying an additional 1,756 shares in the last quarter. American Century Companies Inc. grew its holdings in MGM Resorts International by 10.7% during the 1st quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock worth $1,024,000 after acquiring an additional 2,368 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of MGM Resorts International by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock worth $2,114,000 after purchasing an additional 1,542 shares in the last quarter. Synovus Financial Corp boosted its position in shares of MGM Resorts International by 107.5% during the first quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock worth $529,000 after purchasing an additional 6,526 shares in the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of MGM Resorts International by 81.6% during the first quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock worth $461,000 after purchasing an additional 4,934 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho assumed coverage on shares of MGM Resorts International in a research report on Tuesday. They issued a “buy” rating and a $61.00 price objective on the stock. Morgan Stanley upped their target price on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Wednesday, February 28th. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Macquarie reissued an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.28.

MGM Resorts International Stock Up 0.3 %

Shares of NYSE MGM opened at $46.60 on Thursday. 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 firm has a market capitalization of $14.77 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.54 and a beta of 2.18. The firm has a fifty day simple moving average of $43.60 and a two-hundred day simple moving average of $41.19.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates 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 period last year, the business earned $0.69 EPS. Equities analysts expect that MGM Resorts International will post 2.53 earnings per share for the current year.

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.