Greenleaf Trust Buys 794 Shares of MGM Resorts International (NYSE:MGM)

Greenleaf Trust increased its stake in MGM Resorts International (NYSE:MGM) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 11,627 shares of the company’s stock after purchasing an additional 794 shares during the quarter. Greenleaf Trust’s holdings in MGM Resorts International were worth $519,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth approximately $28,000. Sandy Spring Bank increased its position in shares of MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares during the last quarter. Park Place Capital Corp increased its position in shares of MGM Resorts International by 618.1% in the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after purchasing an additional 853 shares during the last quarter. Sunbelt Securities Inc. increased its position in shares of MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

NYSE:MGM opened at $42.43 on Tuesday. The firm has a market cap of $13.45 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The business has a 50 day moving average price of $43.81 and a 200-day moving average price of $42.05.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. Equities research analysts predict that MGM Resorts International will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank Of America (Bofa) upped their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. JPMorgan Chase & Co. upped their target price on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. 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, the company has an average rating of “Moderate Buy” and an average price target of $55.34.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.83% of the stock is owned by corporate insiders.

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.