Cookson Peirce & Co. Inc. Boosts Stock Holdings in MGM Resorts International (NYSE:MGM)

Cookson Peirce & Co. Inc. lifted its stake in MGM Resorts International (NYSE:MGM) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,504 shares of the company’s stock after acquiring an additional 1,357 shares during the period. Cookson Peirce & Co. Inc.’s holdings in MGM Resorts International were worth $2,257,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MGM. RB Capital Management LLC boosted its holdings in shares of MGM Resorts International by 29.1% in the first quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock worth $327,000 after acquiring an additional 1,756 shares during the period. American Century Companies Inc. boosted its stake in MGM Resorts International by 10.7% during the first quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock valued at $1,024,000 after buying an additional 2,368 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in MGM Resorts International by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock valued at $2,114,000 after buying an additional 1,542 shares during the period. Synovus Financial Corp boosted its stake in MGM Resorts International by 107.5% during the first quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock valued at $529,000 after buying an additional 6,526 shares during the period. Finally, Cibc World Market Inc. boosted its stake in MGM Resorts International by 81.6% during the first quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock valued at $461,000 after buying an additional 4,934 shares during the period. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Trading Down 0.0 %

Shares of MGM traded down $0.02 during trading hours on Tuesday, hitting $42.83. The company had a trading volume of 1,948,948 shares, compared to its average volume of 3,884,708. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The firm has a market cap of $13.58 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.83 and a beta of 2.19. 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 stock’s 50 day moving average price is $44.17 and its 200 day moving average price is $41.82.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. 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 previous year, the business earned $0.69 EPS. MGM Resorts International’s revenue was up 21.8% compared to the same quarter last year. On average, research analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Analyst Ratings Changes

MGM has been the subject of several research analyst reports. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Morgan Stanley lifted their price objective 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. Mizuho started coverage on MGM Resorts International in a research report on Tuesday, March 26th. They set a “buy” rating and a $61.00 price target on the stock. Barclays lowered their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction 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 document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by company 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.