MGM Resorts International (NYSE:MGM) Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in MGM Resorts International (NYSE:MGM) by 16.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,915 shares of the company’s stock after acquiring an additional 2,965 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in MGM Resorts International were worth $934,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Davis Selected Advisers purchased a new stake in MGM Resorts International during the 3rd quarter worth approximately $361,915,000. Boston Partners raised its stake in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after acquiring an additional 3,723,659 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after acquiring an additional 1,686,267 shares during the period. Invesco Ltd. grew its stake in MGM Resorts International by 14.6% during the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after purchasing an additional 500,566 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of MGM Resorts International in the third quarter valued at about $13,930,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MGM shares. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and upped their price objective for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Macquarie reissued an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, JMP Securities increased their price target on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $54.83.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.83% of the company’s stock.

MGM Resorts International Price Performance

MGM traded down $0.50 on Wednesday, hitting $40.14. 1,387,806 shares of the company’s stock were exchanged, compared to its average volume of 3,892,253. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of 15.63, a P/E/G ratio of 0.95 and a beta of 2.22. The firm has a 50-day moving average price of $43.48 and a 200-day moving average price of $42.40. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $0.44 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, equities analysts anticipate that MGM Resorts International will post 2.76 earnings per share for the current year.

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.