MGM Resorts International (NYSE:MGM) Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 43.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,189 shares of the company’s stock after purchasing an additional 2,492 shares during the period. Checchi Capital Advisers LLC’s holdings in MGM Resorts International were worth $284,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International during the third quarter worth approximately $97,725,000. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International in the 3rd quarter worth $17,622,000. ArrowMark Colorado Holdings LLC lifted its position in MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after purchasing an additional 442,975 shares during the period. Finally, KBC Group NV increased its position in MGM Resorts International by 3,041.1% during the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after purchasing an additional 375,693 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

MGM has been the subject of a number of recent analyst reports. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, February 14th. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Morgan Stanley raised their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction 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 approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $34.66 on Friday. The company’s fifty day simple moving average is $34.61 and its 200-day simple moving average is $36.77. The company has a current ratio of 1.30, a quick ratio of 1.26 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. The company has a market cap of $9.90 billion, a PE ratio of 14.44, a P/E/G ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

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.