Blueshift Asset Management LLC Purchases 6,715 Shares of MGM Resorts International (NYSE:MGM)

Blueshift Asset Management LLC lifted its position in MGM Resorts International (NYSE:MGM) by 26.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,151 shares of the company’s stock after acquiring an additional 6,715 shares during the period. Blueshift Asset Management LLC’s holdings in MGM Resorts International were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares in the last quarter. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in MGM Resorts International during the 3rd quarter valued at approximately $44,000. Global Retirement Partners LLC increased its position in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in MGM Resorts International during the 4th quarter valued at approximately $46,000. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, 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 transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Trading Up 2.6 %

Shares of NYSE MGM opened at $32.69 on Thursday. The business’s 50 day moving average is $34.03 and its two-hundred day moving average is $36.14. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25. The stock has a market capitalization of $9.33 billion, a P/E ratio of 13.62, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping 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 expect that MGM Resorts International will post 2.21 EPS for the current 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.