MGM Resorts International (NYSE:MGM) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in MGM Resorts International (NYSE:MGM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,283,110 shares of the company’s stock after acquiring an additional 38,749 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MGM Resorts International were worth $79,110,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. ACR Alpine Capital Research LLC grew its stake in MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after acquiring an additional 30,605 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in MGM Resorts International in the 4th quarter valued at about $57,000. Jones Financial Companies Lllp lifted its holdings in MGM Resorts International by 56.4% in the 4th quarter. Jones Financial Companies Lllp now owns 14,616 shares of the company’s stock valued at $506,000 after purchasing an additional 5,272 shares in the last quarter. Factorial Partners LLC purchased a new position in MGM Resorts International in the 4th quarter valued at about $658,000. Finally, Hosking Partners LLP lifted its holdings in MGM Resorts International by 1.9% in the 4th quarter. Hosking Partners LLP now owns 849,534 shares of the company’s stock valued at $29,436,000 after purchasing an additional 15,577 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Trading Down 0.5 %

NYSE MGM opened at $31.86 on Tuesday. MGM Resorts International has a one year low of $30.69 and a one year high of $48.24. The company’s 50 day moving average price is $34.40 and its 200 day moving average price is $36.48. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company upped their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Capital One Financial upped their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Wedbush restated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

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.