MidAtlantic Capital Management Inc. Makes New $28,000 Investment in MGM Resorts International (NYSE:MGM)

MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International (NYSE:MGM) during the third quarter, Holdings Channel.com reports. The firm bought 713 shares of the company’s stock, valued at approximately $28,000.

Other large investors also recently modified their holdings of the company. Marshall Wace LLP raised its position in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of MGM Resorts International during the second quarter valued at $1,211,000. Empower Advisory Group LLC boosted its holdings in MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in MGM Resorts International during the 2nd quarter worth about $3,314,000. Finally, Boston Partners lifted its position in MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.83% of the stock is owned by insiders.

MGM Resorts International Trading Down 0.3 %

Shares of NYSE:MGM opened at $37.15 on Tuesday. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 2.66 and a beta of 2.23. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company’s fifty day simple moving average is $38.48 and its 200 day simple moving average is $39.79. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

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

Analyst Upgrades and Downgrades

MGM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. JMP Securities lowered their target price on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Susquehanna upped their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company decreased their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

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.