Northstar Advisory Group LLC Grows Position in MGM Resorts International (NYSE:MGM)

Northstar Advisory Group LLC grew its stake in MGM Resorts International (NYSE:MGM) by 13.3% during the 4th quarter, HoldingsChannel reports. The firm owned 48,528 shares of the company’s stock after buying an additional 5,696 shares during the quarter. MGM Resorts International accounts for about 1.3% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 24th biggest holding. Northstar Advisory Group LLC’s holdings in MGM Resorts International were worth $2,168,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of MGM Resorts International by 1.3% during the 2nd quarter. BlackRock Inc. now owns 22,227,721 shares of the company’s stock worth $976,241,000 after buying an additional 290,839 shares during the period. Bamco Inc. NY raised its stake in MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after purchasing an additional 82,134 shares during the last quarter. Black Swift Group LLC raised its stake in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after purchasing an additional 60,000 shares during the last quarter. Boston Partners raised its stake in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MGM has been the subject of several recent research reports. Morgan Stanley increased their price objective on MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 28th. Barclays dropped their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft upped their target price on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $55.28.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $46.84 on Thursday. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a market cap of $14.85 billion, a PE ratio of 14.70, a P/E/G ratio of 1.54 and a beta of 2.18. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The business has a 50-day simple moving average of $43.60 and a 200-day simple moving average of $41.19.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, equities research analysts forecast that MGM Resorts International will post 2.53 EPS for the current fiscal year.

About MGM Resorts International

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.