Bay Colony Advisory Group Inc d b a Bay Colony Advisors Purchases 333 Shares of MGM Resorts International (NYSE:MGM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of MGM Resorts International (NYSE:MGM) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,749 shares of the company’s stock after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in MGM Resorts International were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MGM. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International during the third quarter valued at $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the fourth quarter valued at $28,000. Assetmark Inc. grew its holdings in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC grew its holdings 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 purchasing an additional 404 shares during the period. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International during the third quarter valued at $44,000. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value 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 disclosure for this sale can be found here. 2.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley increased their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Finally, BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Stock Up 1.3 %

MGM opened at $32.05 on Friday. The stock has a market cap of $9.15 billion, a PE ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18. 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 $30.69 and a 52 week high of $48.24. The business’s fifty day simple moving average is $34.45 and its 200 day simple moving average is $36.58.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 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, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.