Kellett Wealth Advisors LLC Buys Shares of 5,100 MGM Resorts International (NYSE:MGM)

Kellett Wealth Advisors LLC purchased a new stake in shares of MGM Resorts International (NYSE:MGM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,100 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MGM. Davis Selected Advisers acquired a new position in shares of MGM Resorts International during the third quarter valued at $361,915,000. Norges Bank acquired a new position in shares of MGM Resorts International during the fourth quarter valued at $165,932,000. Boston Partners boosted its holdings in shares of MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after acquiring an additional 3,723,659 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of MGM Resorts International by 17.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock valued at $713,390,000 after acquiring an additional 3,098,142 shares during the period. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after acquiring an additional 1,686,267 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Barclays reduced their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and a consensus target price of $55.34.

MGM Resorts International Stock Up 0.0 %

Shares of MGM traded up $0.01 during trading hours on Thursday, reaching $42.04. The company’s stock had a trading volume of 3,502,759 shares, compared to its average volume of 3,875,860. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 1.72 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 quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average of $43.99 and a two-hundred day moving average of $41.86.

MGM Resorts International (NYSE:MGM) last issued its earnings results 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. The company 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 firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, research analysts predict that MGM Resorts International will post 2.51 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated 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 owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International 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.