MGM Resorts International (NYSE:MGM) Shares Bought by Creative Planning

Creative Planning raised its position in MGM Resorts International (NYSE:MGM) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 77,682 shares of the company’s stock after acquiring an additional 6,040 shares during the quarter. Creative Planning’s holdings in MGM Resorts International were worth $3,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Shikiar Asset Management Inc. lifted its stake in shares of MGM Resorts International by 7.0% during the third quarter. Shikiar Asset Management Inc. now owns 234,360 shares of the company’s stock worth $9,161,000 after buying an additional 15,335 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of MGM Resorts International by 37.3% during the third quarter. Exchange Traded Concepts LLC now owns 114,281 shares of the company’s stock worth $4,467,000 after buying an additional 31,036 shares during the period. Mendota Financial Group LLC lifted its stake in shares of MGM Resorts International by 61.0% during the third quarter. Mendota Financial Group LLC now owns 1,616 shares of the company’s stock worth $63,000 after buying an additional 612 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of MGM Resorts International by 540.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,607 shares of the company’s stock worth $102,000 after buying an additional 2,200 shares during the period. Finally, Key Colony Management LLC lifted its stake in shares of MGM Resorts International by 11.1% during the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock worth $34,516,000 after buying an additional 88,000 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

MGM opened at $40.36 on Friday. The company’s 50 day simple moving average is $38.38 and its 200 day simple moving average is $40.29. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The stock has a market capitalization of $12.26 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. As a group, sell-side analysts expect that MGM Resorts International will post 2.54 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Macquarie lowered their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. BTIG Research assumed coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. JMP Securities decreased their target price on shares of MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a research report on Monday, October 14th. Susquehanna boosted their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $54.08.

Insider Buying and Selling

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the purchase, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the purchase, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the purchase, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 216,400 shares of company stock worth $7,312,197. Insiders own 2.13% of the company’s stock.

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.