MGM Resorts International (NYSE:MGM) Shares Purchased by Northstar Advisory Group LLC

Northstar Advisory Group LLC boosted its position in MGM Resorts International (NYSE:MGM) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,528 shares of the company’s stock after acquiring an additional 5,696 shares during the quarter. MGM Resorts International accounts for 1.3% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 24th biggest position. Northstar Advisory Group LLC’s holdings in MGM Resorts International were worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MGM. Davis Selected Advisers purchased a new stake in shares of MGM Resorts International during the third quarter worth about $361,915,000. Norges Bank acquired a new stake in MGM Resorts International in the fourth quarter worth approximately $165,932,000. Boston Partners increased its holdings in shares of MGM Resorts International by 1,447.6% in the third 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of MGM Resorts International by 17.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock valued at $713,390,000 after buying an additional 3,098,142 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $55.00 price target on shares of MGM Resorts International in a research note on Tuesday, December 5th. Bank Of America (Bofa) upped their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Mizuho assumed coverage on shares of MGM Resorts International in a report on Tuesday. They issued a “buy” rating and a $61.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.28.

MGM Resorts International Stock Up 0.5 %

NYSE MGM opened at $46.84 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The firm has a 50-day simple moving average of $43.60 and a 200 day simple moving average of $41.19. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The stock has a market cap of $14.85 billion, a PE ratio of 14.70, a PEG ratio of 1.54 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the company earned $0.69 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis. On average, research analysts forecast that MGM Resorts International will post 2.53 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the 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 completion of the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.13% of the company’s stock.

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.