5,651 Shares in MGM Resorts International (NYSE:MGM) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,651 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors have also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new position in shares of MGM Resorts International during the second quarter worth $26,000. CVA Family Office LLC purchased a new position in MGM Resorts International in the fourth quarter valued at $28,000. VitalStone Financial LLC increased its holdings in MGM Resorts International by 108.9% in the first quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock valued at $33,000 after buying an additional 380 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MGM Resorts International in the third quarter valued at $28,000. Finally, Clear Street Markets LLC increased its holdings in MGM Resorts International by 140.9% in the first quarter. Clear Street Markets LLC now owns 819 shares of the company’s stock valued at $36,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM opened at $42.42 on Friday. The firm has a market capitalization of $13.45 billion, a PE ratio of 13.38, a PEG ratio of 1.73 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 firm’s 50-day moving average price is $43.91 and its 200 day moving average price is $41.90. 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 (NYSE:MGM) last posted its quarterly 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. The firm had revenue of $4.38 billion for 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts expect that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGM. Bank Of America (Bofa) lifted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Mizuho began coverage on shares of MGM Resorts International in a research note on Tuesday, March 26th. They set a “buy” rating and a $61.00 target price for the company. Barclays cut their target price on shares of 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. Finally, TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by company insiders.

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.