Cwm LLC Increases Holdings in MGM Resorts International (NYSE:MGM)

Cwm LLC raised its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 48.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,131 shares of the company's stock after buying an additional 18,209 shares during the quarter. Cwm LLC's holdings in MGM Resorts International were worth $1,664,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. raised its stake in shares of MGM Resorts International by 8.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock worth $111,000 after purchasing an additional 261 shares during the last quarter. Amalgamated Bank grew its holdings in shares of MGM Resorts International by 0.8% in the first quarter. Amalgamated Bank now owns 43,933 shares of the company's stock worth $1,302,000 after acquiring an additional 329 shares during the period. State of Alaska Department of Revenue grew its holdings in MGM Resorts International by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 26,210 shares of the company's stock valued at $776,000 after purchasing an additional 410 shares during the period. Golden State Wealth Management LLC increased its position in MGM Resorts International by 83.5% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 455 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in MGM Resorts International by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock worth $5,073,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Down 0.9%

Shares of NYSE:MGM opened at $37.24 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.79. The stock has a market cap of $10.13 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 2.40 and a beta of 1.76. The business's 50 day moving average is $34.29 and its 200 day moving average is $33.09. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $45.54.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.29 billion. MGM Resorts International had a return on equity of 20.64% and a net margin of 3.95%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 22.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 60,000 shares of MGM Resorts International stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the completion of the transaction, the director owned 5,627,478 shares in the company, valued at approximately $180,585,769.02. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total value of $183,766.73. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock valued at $3,486,367 in the last quarter. 3.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MGM shares. UBS Group upped their price objective on MGM Resorts International from $37.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Macquarie dropped their price objective on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Citigroup upgraded MGM Resorts International from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from $55.00 to $57.00 in a research report on Wednesday, July 9th. JPMorgan Chase & Co. assumed coverage on MGM Resorts International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $38.00 target price on the stock. Finally, Citizens Jmp downgraded MGM Resorts International from an "outperform" rating to a "market perform" rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $48.00.

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.

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