Global Trust Asset Management LLC Makes New Investment in MGM Resorts International (NYSE:MGM)

Global Trust Asset Management LLC purchased a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 818 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds have also modified their holdings of MGM. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International in the third quarter valued at approximately $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at $44,000. Planning Capital Management Corp acquired a new stake in MGM Resorts International during the 3rd quarter worth $45,000. Finally, Modus Advisors LLC bought a new position in MGM Resorts International during the fourth quarter worth about $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Mizuho dropped their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Barclays reduced their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International Price Performance

NYSE:MGM opened at $32.81 on Thursday. The stock has a market capitalization of $9.77 billion, a PE ratio of 11.72, a P/E/G ratio of 3.11 and a beta of 2.21. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The firm has a fifty day simple moving average of $35.32 and a 200 day simple moving average of $37.90. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that MGM Resorts International will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.13% of the company’s stock.

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.