HighPoint Advisor Group LLC Has $361,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

HighPoint Advisor Group LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 58.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,520 shares of the company’s stock after purchasing an additional 3,881 shares during the quarter. HighPoint Advisor Group LLC’s holdings in MGM Resorts International were worth $361,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Davis Selected Advisers grew its stake in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares during the period. Norges Bank bought a new position in shares of MGM Resorts International during the 4th quarter valued at about $88,033,000. Charles Schwab Investment Management Inc. grew its position in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after purchasing an additional 38,749 shares during the period. FMR LLC increased its stake in MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in MGM Resorts International by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock worth $45,876,000 after buying an additional 42,256 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

MGM has been the subject of several research reports. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Capital One Financial boosted their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Mizuho increased their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Six 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 stock has an average rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Stock Up 2.9 %

MGM stock opened at $30.80 on Thursday. The business’s 50 day simple moving average is $33.73 and its 200 day simple moving average is $35.82. MGM Resorts International has a 1-year low of $28.63 and a 1-year high of $47.45. The firm has a market capitalization of $8.79 billion, a PE ratio of 12.83, a PEG ratio of 0.98 and a beta of 2.18. 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 (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’s 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 in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

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.