MGM Resorts International (NYSE:MGM) Stake Lifted by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC boosted its holdings in MGM Resorts International (NYSE:MGM) by 43.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,189 shares of the company’s stock after acquiring an additional 2,492 shares during the quarter. Checchi Capital Advisers LLC’s holdings in MGM Resorts International were worth $284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International during the 3rd quarter worth about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after acquiring an additional 123,124 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after purchasing an additional 79,486 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Capital One Financial increased their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company upped their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Price Performance

Shares of MGM stock opened at $34.66 on Friday. The company has a market capitalization of $9.90 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.98 and a beta of 2.20. 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 12 month low of $31.61 and a 12 month high of $48.24. The stock has a 50 day moving average of $34.61 and a two-hundred day moving average of $36.77.

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

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.