Crewe Advisors LLC Acquires 3,000 Shares of MGM Resorts International (NYSE:MGM)

Crewe Advisors LLC grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 3,000.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,100 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Crewe Advisors LLC’s holdings in MGM Resorts International were worth $121,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. CANADA LIFE ASSURANCE Co lifted its holdings in MGM Resorts International by 2.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 157,776 shares of the company’s stock worth $7,457,000 after buying an additional 4,090 shares during the period. Axxcess Wealth Management LLC acquired a new position in shares of MGM Resorts International in the first quarter worth approximately $206,000. Advisors Asset Management Inc. lifted its stake in shares of MGM Resorts International by 106.8% in the first quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock worth $403,000 after acquiring an additional 4,412 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in MGM Resorts International by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock valued at $26,602,000 after acquiring an additional 5,968 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its position in MGM Resorts International by 38.4% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company’s stock valued at $396,000 after purchasing an additional 2,325 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Macquarie lowered their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.15.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $37.80 on Friday. The business’s fifty day moving average is $38.64 and its 200 day moving average is $39.71. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The stock has a market cap of $11.25 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.71 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.64 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 2.5 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.