Lazari Capital Management Inc. Makes New Investment in MGM Resorts International (NYSE:MGM)

Lazari Capital Management Inc. purchased a new position in shares of MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,306 shares of the company’s stock, valued at approximately $237,000.

A number of other institutional investors also recently bought and sold shares of the business. Regatta Capital Group LLC raised its holdings in shares of MGM Resorts International by 1.8% during the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the period. Sandy Spring Bank raised its holdings in shares of MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after acquiring an additional 288 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after acquiring an additional 292 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 2.7% during the 4th quarter. 180 Wealth Advisors LLC now owns 11,731 shares of the company’s stock worth $534,000 after acquiring an additional 312 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of MGM Resorts International by 49.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock valued at $5,991,759. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Trading Down 1.7 %

NYSE:MGM traded down $0.68 on Friday, reaching $39.85. 2,680,903 shares of the company’s stock were exchanged, compared to its average volume of 3,329,645. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 0.87 and a beta of 2.24. The business has a fifty day moving average of $41.21 and a 200-day moving average of $42.80. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35.

MGM Resorts International (NYSE:MGM) last issued 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. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, analysts expect that MGM Resorts International will post 2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MGM. Mizuho lifted their price target on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. JMP Securities boosted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three 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 company has an average rating of “Moderate Buy” and a consensus price target of $54.83.

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.