Crewe Advisors LLC Purchases 3,000 Shares of MGM Resorts International (NYSE:MGM)

Crewe Advisors LLC grew its position in shares of MGM Resorts International (NYSE:MGM) by 3,000.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,100 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Crewe Advisors LLC’s holdings in MGM Resorts International were worth $121,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGM. CANADA LIFE ASSURANCE Co increased its position in shares of MGM Resorts International by 2.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 157,776 shares of the company’s stock valued at $7,457,000 after acquiring an additional 4,090 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at $206,000. Advisors Asset Management Inc. increased its position in shares of MGM Resorts International by 106.8% during the 1st quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock valued at $403,000 after purchasing an additional 4,412 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MGM Resorts International by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock worth $26,602,000 after purchasing an additional 5,968 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of MGM Resorts International by 38.4% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company’s stock worth $396,000 after buying an additional 2,325 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.6 %

MGM stock opened at $37.80 on Friday. The stock has a 50-day simple moving average of $38.64 and a two-hundred day simple moving average of $39.71. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The firm has a market capitalization of $11.25 billion, a PE ratio of 13.50, a PEG ratio of 2.71 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the firm posted $0.64 EPS. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MGM shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Barclays lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Susquehanna increased their price objective on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Finally, Mizuho cut their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.15.

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.