HCR Wealth Advisors Has $904,000 Stock Position in MGM Resorts International (NYSE:MGM)

HCR Wealth Advisors raised its position in MGM Resorts International (NYSE:MGMFree Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 20,232 shares of the company’s stock after acquiring an additional 947 shares during the period. HCR Wealth Advisors’ holdings in MGM Resorts International were worth $904,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Davis Selected Advisers bought a new stake in shares of MGM Resorts International in the 3rd quarter worth $361,915,000. Boston Partners increased its stake in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares during the last quarter. Norges Bank bought a new position in shares of MGM Resorts International during the 4th quarter worth approximately $139,599,000. Qube Research & Technologies Ltd boosted its stake in shares of MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after buying an additional 1,686,267 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after buying an additional 500,566 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MGM. Macquarie restated an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and upped their price target for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, Barclays lifted their price objective on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Check Out Our Latest Stock Analysis on MGM Resorts International

MGM Resorts International Price Performance

NYSE:MGM traded up $0.79 during mid-day trading on Friday, hitting $39.72. 2,937,018 shares of the stock traded hands, compared to its average volume of 4,005,313. The business’s 50-day moving average price is $42.98 and its 200 day moving average price is $42.74. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The company has a market cap of $12.46 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.86 and a beta of 2.22. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, analysts expect that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel J. Taylor sold 4,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares of the company’s stock, valued at $215,355. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the sale, the director now directly owns 5,250 shares of the company’s stock, valued at approximately $215,355. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The disclosure for this sale can be found here. Insiders have sold 333,688 shares of company stock worth $14,300,967 in the last ninety days. 2.13% of the stock is currently owned by insiders.

About MGM Resorts International

(Free Report)

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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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