Fidelis Capital Partners LLC Takes Position in MGM Resorts International (NYSE:MGM)

Fidelis Capital Partners LLC purchased a new position in MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,493 shares of the company’s stock, valued at approximately $290,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $28,000. VitalStone Financial LLC grew its stake in shares of MGM Resorts International by 108.9% in the 1st quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after buying an additional 380 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $28,000. Finally, Clear Street Markets LLC grew its stake in shares of MGM Resorts International by 140.9% in the 1st quarter. Clear Street Markets LLC now owns 819 shares of the company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM stock opened at $42.42 on Friday. The company has a market cap of $13.45 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.73 and a beta of 2.19. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock’s fifty day moving average price is $43.91 and its 200-day moving average price is $41.90.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. On average, equities analysts forecast that MGM Resorts International will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on MGM shares. Deutsche Bank Aktiengesellschaft upped their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Bank Of America (Bofa) upped their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Morgan Stanley increased their target price on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, JMP Securities reiterated a “market outperform” rating and set a $57.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the firm’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 transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.13% of the stock is owned by insiders.

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.