Integrated Wealth Concepts LLC Acquires 1,236 Shares of MGM Resorts International (NYSE:MGM)

Integrated Wealth Concepts LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,797 shares of the company’s stock after acquiring an additional 1,236 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in MGM Resorts International were worth $1,360,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Investment Management Corp of Ontario increased its position in MGM Resorts International by 47.4% during the third quarter. Investment Management Corp of Ontario now owns 7,777 shares of the company’s stock worth $304,000 after acquiring an additional 2,500 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in MGM Resorts International during the third quarter worth about $17,622,000. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International during the third quarter worth about $97,725,000. Hilltop Holdings Inc. grew its stake in MGM Resorts International by 3.8% during the third quarter. Hilltop Holdings Inc. now owns 13,198 shares of the company’s stock worth $516,000 after buying an additional 489 shares in the last quarter. Finally, Centiva Capital LP grew its stake in MGM Resorts International by 79.0% during the third quarter. Centiva Capital LP now owns 22,812 shares of the company’s stock worth $892,000 after buying an additional 10,065 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Down 0.5 %

NYSE:MGM opened at $36.66 on Friday. The firm’s 50 day simple moving average is $38.65 and its 200 day simple moving average is $39.47. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a market cap of $10.92 billion, a PE ratio of 13.09, a P/E/G ratio of 2.68 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.13% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Barclays reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Mizuho reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.85.

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.