Tyche Wealth Partners LLC Buys Shares of 8,080 MGM Resorts International (NYSE:MGM)

Tyche Wealth Partners LLC purchased a new stake in MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,080 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tyler Stone Wealth Management bought a new position in shares of MGM Resorts International in the second quarter valued at approximately $26,000. Mendota Financial Group LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at $27,000. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at $28,000. CVA Family Office LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at $28,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGM. Morgan Stanley boosted their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Mizuho began coverage on shares of MGM Resorts International in a report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

MGM Resorts International Trading Down 1.6 %

Shares of NYSE MGM opened at $42.03 on Thursday. The firm’s 50 day moving average price is $44.08 and its 200-day moving average price is $41.86. The company has a market cap of $13.32 billion, a PE ratio of 13.26, a P/E/G ratio of 1.72 and a beta of 2.19. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that MGM Resorts International will post 2.51 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.13% of the company’s stock.

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.