Ieq Capital LLC Invests $1.05 Million in MGM Resorts International (NYSE:MGM)

Ieq Capital LLC purchased a new stake 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 purchased 30,155 shares of the company’s stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International during the 3rd quarter valued at $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International during the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the 3rd quarter worth $44,000. Planning Capital Management Corp bought a new stake in shares of MGM Resorts International in the third quarter worth $45,000. Finally, Global Retirement Partners LLC increased its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MGM. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, February 14th. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group reduced their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Susquehanna Bancshares boosted their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Up 0.9 %

MGM opened at $36.32 on Tuesday. The company has a market capitalization of $10.37 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The firm has a 50-day simple moving average of $34.55 and a two-hundred day simple moving average of $36.80. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction 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 transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by 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.