Hillsdale Investment Management Inc. Buys 1,060 Shares of MGM Resorts International (NYSE:MGM)

Hillsdale Investment Management Inc. grew its stake in MGM Resorts International (NYSE:MGM) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,600 shares of the company’s stock after acquiring an additional 1,060 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in MGM Resorts International were worth $563,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Davis Selected Advisers bought a new stake in MGM Resorts International in the 3rd quarter worth about $361,915,000. Boston Partners lifted its holdings in shares of MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares during the period. Norges Bank purchased a new position in shares of MGM Resorts International in the 4th quarter worth $139,599,000. Qube Research & Technologies Ltd grew its holdings in shares of MGM Resorts International by 544.8% in the third 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. Finally, Invesco Ltd. increased its position in MGM Resorts International by 14.6% during the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after acquiring an additional 500,566 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 0.8 %

MGM Resorts International stock opened at $41.35 on Tuesday. The stock has a market cap of $12.97 billion, a P/E ratio of 15.90, a PEG ratio of 0.91 and a beta of 2.22. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm’s 50 day moving average price is $43.21 and its 200-day moving average price is $42.76.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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 return on equity of 23.62% and a net margin of 5.35%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JMP Securities upped their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research report on Monday, May 6th. Morgan Stanley increased their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. 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 research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their target price on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Bank Of America (Bofa) upped their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.83.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.83% of the stock is currently owned by company insiders.

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.