First Personal Financial Services bought a new position in MGM Resorts International (NYSE:MGM) in the 1st quarter, HoldingsChannel reports. The fund bought 1,025 shares of the company’s stock, valued at approximately $26,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGM. Barrow Hanley Mewhinney & Strauss LLC bought a new position in MGM Resorts International in the 4th quarter worth about $122,017,000. Bank of America Corp DE grew its position in MGM Resorts International by 380.3% in the 4th quarter. Bank of America Corp DE now owns 5,827,720 shares of the company’s stock worth $141,381,000 after purchasing an additional 4,614,420 shares during the last quarter. Norges Bank bought a new position in MGM Resorts International in the 4th quarter worth about $108,871,000. Two Sigma Advisers LP grew its position in MGM Resorts International by 127.9% in the 4th quarter. Two Sigma Advisers LP now owns 3,972,219 shares of the company’s stock worth $96,366,000 after purchasing an additional 2,228,972 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in MGM Resorts International by 1,690.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,197,107 shares of the company’s stock worth $53,298,000 after purchasing an additional 2,074,391 shares during the last quarter. Hedge funds and other institutional investors own 80.89% of the company’s stock.
Shares of NYSE:MGM opened at $27.51 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.86 and a quick ratio of 0.82. The company has a market capitalization of $14.61 billion, a P/E ratio of 27.79, a PEG ratio of 3.99 and a beta of 1.38. MGM Resorts International has a 52 week low of $21.61 and a 52 week high of $36.73.
Several research analysts have commented on the stock. Deutsche Bank restated a “hold” rating and issued a $32.00 target price on shares of MGM Resorts International in a research report on Monday, March 25th. Zacks Investment Research cut shares of MGM Resorts International from a “hold” rating to a “strong sell” rating in a report on Monday, February 18th. Credit Suisse Group restated a “neutral” rating and set a $30.00 target price on shares of MGM Resorts International in a report on Wednesday, March 20th. Finally, Morgan Stanley raised their target price on shares of MGM Resorts International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. MGM Resorts International presently has a consensus rating of “Hold” and an average target price of $33.50.
In other news, Director Mary Christine Gay purchased 3,700 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $27.27 per share, for a total transaction of $100,899.00. Following the transaction, the director now owns 18,036 shares in the company, valued at $491,841.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.47% of the stock is currently owned by corporate insiders.
MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.
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