43,960 Shares in MGM Resorts International (NYSE:MGM) Bought by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. bought a new position in MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 43,960 shares of the company’s stock, valued at approximately $1,954,000.

Other hedge funds have also modified their holdings of the company. Westfield Capital Management Co. LP grew its holdings in shares of MGM Resorts International by 21.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock worth $107,295,000 after acquiring an additional 416,911 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of MGM Resorts International by 41.2% in the first quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock worth $465,000 after buying an additional 2,872 shares during the period. ACR Alpine Capital Research LLC acquired a new stake in shares of MGM Resorts International in the first quarter worth $3,922,000. Fisher Asset Management LLC boosted its position in shares of MGM Resorts International by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after buying an additional 213,528 shares during the period. Finally, Texas Permanent School Fund Corp boosted its position in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after buying an additional 245 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem acquired 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Paul J. Salem purchased 147,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now directly owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 216,400 shares of company stock worth $7,312,197. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 0.2 %

MGM Resorts International stock opened at $36.44 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The business’s 50-day simple moving average is $39.67 and its 200-day simple moving average is $41.39. The firm has a market capitalization of $11.43 billion, a PE ratio of 14.02, a PEG ratio of 0.64 and a beta of 2.22. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.68 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MGM. Macquarie decreased their target price 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. BTIG Research began coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 target price for the company. Stifel Nicolaus raised their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley reduced their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price objective on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

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.