MGM Resorts International (NYSE:MGM) Shares Acquired by Lindbrook Capital LLC

Lindbrook Capital LLC raised its position in shares of MGM Resorts International (NYSE:MGM) by 12.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,282 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Lindbrook Capital LLC’s holdings in MGM Resorts International were worth $147,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bamco Inc. NY raised its holdings in shares of MGM Resorts International by 4.5% during the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after acquiring an additional 82,134 shares during the last quarter. Black Swift Group LLC increased its holdings in shares of MGM Resorts International by 133.3% in the third quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after purchasing an additional 60,000 shares during the last quarter. Allworth Financial LP increased its holdings in shares of MGM Resorts International by 122.0% in the fourth quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock valued at $306,000 after purchasing an additional 3,760 shares during the last quarter. Boston Partners increased its holdings in shares of MGM Resorts International by 1,447.6% in the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of MGM Resorts International by 544.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MGM. Morgan Stanley increased their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Mizuho started coverage on MGM Resorts International in a research report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target for the company. Finally, TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

MGM Resorts International Stock Up 1.0 %

MGM opened at $42.85 on Wednesday. The business’s 50-day simple moving average is $43.81 and its 200-day simple moving average is $42.05. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The stock has a market capitalization of $13.58 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter last year, the company posted $0.69 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. Analysts anticipate that MGM Resorts International will post 2.46 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.