Savant Capital LLC Acquires 31,446 Shares of MGM Resorts International $MGM

Savant Capital LLC boosted its holdings in MGM Resorts International (NYSE:MGMFree Report) by 100.0% in the third quarter, Holdings Channel reports. The firm owned 62,892 shares of the company’s stock after purchasing an additional 31,446 shares during the quarter. Savant Capital LLC’s holdings in MGM Resorts International were worth $2,180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in shares of MGM Resorts International by 4.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock worth $274,000 after buying an additional 315 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in MGM Resorts International by 0.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock worth $1,378,000 after acquiring an additional 328 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in MGM Resorts International by 0.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock valued at $1,917,000 after purchasing an additional 399 shares during the last quarter. NewEdge Advisors LLC boosted its position in MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after purchasing an additional 421 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in MGM Resorts International by 27.1% in the second quarter. Hantz Financial Services Inc. now owns 1,986 shares of the company’s stock valued at $68,000 after purchasing an additional 423 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

Shares of MGM opened at $37.49 on Monday. The firm has a market capitalization of $10.25 billion, a PE ratio of 49.99 and a beta of 1.44. The company’s 50-day moving average is $35.62 and its 200-day moving average is $34.98. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.23 and a quick ratio of 1.19.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its earnings results on Thursday, February 5th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. Equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Key MGM Resorts International News

Here are the key news stories impacting MGM Resorts International this week:

Insider Activity at MGM Resorts International

In other news, major shareholder Iac Inc. bought 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were bought at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the completion of the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.06% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of several recent analyst reports. Texas Capital raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, January 8th. Citigroup upped their price target on shares of MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday. Capital One Financial decreased their price objective on shares of MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 5th. Zacks Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, UBS Group cut their target price on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.82.

Check Out Our Latest Report on MGM

MGM Resorts International Company Profile

(Free Report)

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

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Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGMFree Report).

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

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