Modus Advisors LLC Takes $46,000 Position in MGM Resorts International (NYSE:MGM)

Modus Advisors LLC acquired a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,335 shares of the company’s stock, valued at approximately $46,000.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in MGM Resorts International in the 2nd quarter valued at $28,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter worth $28,000. Eastern Bank purchased a new position in MGM Resorts International during the third quarter worth about $35,000. Ashton Thomas Private Wealth LLC bought a new position in MGM Resorts International in the 2nd quarter worth about $49,000. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MGM. JMP Securities cut their price objective on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Barclays decreased their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $52.36.

MGM Resorts International Stock Up 1.3 %

Shares of NYSE MGM opened at $34.09 on Friday. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 3.10 and a beta of 2.20. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average is $36.65 and its 200 day moving average is $38.79. MGM Resorts International has a 52 week low of $33.28 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 net margin of 5.23% and a return on equity of 25.84%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. On average, equities research analysts expect that MGM Resorts International will post 2.48 earnings per share for the current year.

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.