Wealthstreet Investment Advisors LLC Takes Position in MGM Resorts International (MGM)

Wealthstreet Investment Advisors LLC bought a new stake in MGM Resorts International (NYSE:MGM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 58,550 shares of the company’s stock, valued at approximately $1,955,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Spirit of America Management Corp NY bought a new position in MGM Resorts International in the 3rd quarter valued at about $104,000. Sun Life Financial INC bought a new position in MGM Resorts International in the 3rd quarter valued at about $124,000. Cerebellum GP LLC bought a new position in MGM Resorts International in the 4th quarter valued at about $126,000. Northwestern Mutual Wealth Management Co. increased its holdings in MGM Resorts International by 88.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after buying an additional 2,318 shares during the period. Finally, Toronto Dominion Bank increased its holdings in MGM Resorts International by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after buying an additional 624 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MGM Resorts International (MGM) opened at $33.50 on Monday. The stock has a market cap of $18,926.00, a P/E ratio of 29.58, a P/E/G ratio of 5.88 and a beta of 1.44. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. MGM Resorts International has a 1-year low of $25.15 and a 1-year high of $38.41.

In related news, insider Phyllis James sold 19,149 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $33.64, for a total transaction of $644,172.36. Following the sale, the insider now directly owns 8,961 shares in the company, valued at approximately $301,448.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Baldwin sold 61,600 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $32.56, for a total transaction of $2,005,696.00. Following the sale, the insider now owns 70,049 shares in the company, valued at $2,280,795.44. The disclosure for this sale can be found here. Insiders have sold a total of 86,877 shares of company stock worth $2,853,502 over the last ninety days. 12.20% of the stock is currently owned by insiders.

Several equities analysts have commented on the stock. Jefferies Group assumed coverage on shares of MGM Resorts International in a report on Thursday, January 18th. They issued a “buy” rating and a $43.00 target price on the stock. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a report on Tuesday, January 9th. Stifel Nicolaus reissued a “hold” rating and issued a $36.00 target price (up from $33.00) on shares of MGM Resorts International in a report on Thursday, November 9th. Finally, Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $37.38.

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MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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