Signaturefd LLC Has $628,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Signaturefd LLC boosted its position in MGM Resorts International (NYSE:MGM) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,049 shares of the company’s stock after acquiring an additional 425 shares during the period. Signaturefd LLC’s holdings in MGM Resorts International were worth $628,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Davis Selected Advisers bought a new position in MGM Resorts International in the third quarter valued at about $361,915,000. Boston Partners boosted its holdings 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 valued at $145,916,000 after acquiring an additional 3,723,659 shares during the last quarter. Invesco Ltd. boosted its holdings in MGM Resorts International by 14.6% in the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after acquiring an additional 500,566 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in MGM Resorts International by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock valued at $92,923,000 after acquiring an additional 106,158 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in 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 acquiring an additional 1,686,267 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of recent analyst reports. Barclays reduced their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a report on Tuesday, March 26th. They set a “buy” rating and a $61.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $57.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft raised their target price on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Macquarie reiterated an “outperform” rating and set a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.34.

MGM Resorts International Stock Up 1.0 %

NYSE:MGM opened at $42.85 on Wednesday. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The stock’s 50 day moving average price is $43.81 and its two-hundred day moving average price is $42.05. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’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 directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.83% of the stock is currently owned by corporate insiders.

About MGM Resorts International

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.