MGM Resorts International (MGM) Stake Lessened by Creative Planning

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Creative Planning lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,102 shares of the company’s stock after selling 2,588 shares during the quarter. Creative Planning’s holdings in MGM Resorts International were worth $1,822,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Bank of New York Mellon Corp boosted its stake in shares of MGM Resorts International by 143.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,603,754 shares of the company’s stock worth $220,738,000 after acquiring an additional 4,478,383 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in MGM Resorts International by 3.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 111,408 shares of the company’s stock valued at $3,107,000 after purchasing an additional 4,031 shares during the period. DNB Asset Management AS boosted its stake in MGM Resorts International by 13.0% during the 3rd quarter. DNB Asset Management AS now owns 59,138 shares of the company’s stock valued at $1,651,000 after purchasing an additional 6,800 shares during the period. Bank of Montreal Can boosted its stake in MGM Resorts International by 40.3% during the 3rd quarter. Bank of Montreal Can now owns 281,233 shares of the company’s stock valued at $7,849,000 after purchasing an additional 80,780 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in MGM Resorts International by 60.4% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 59,562 shares of the company’s stock valued at $1,662,000 after purchasing an additional 22,425 shares during the period. Institutional investors own 80.07% of the company’s stock.

Shares of MGM stock opened at $28.97 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.36. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $37.13. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.71 and a beta of 1.48.

MGM has been the subject of several recent analyst reports. Bank of America restated a “buy” rating and set a $30.00 target price on shares of MGM Resorts International in a research note on Tuesday, October 16th. Deutsche Bank restated a “hold” rating and set a $33.00 target price on shares of MGM Resorts International in a research note on Monday, January 28th. Morgan Stanley restated a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. Sanford C. Bernstein initiated coverage on MGM Resorts International in a research note on Thursday, November 15th. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, January 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. MGM Resorts International currently has a consensus rating of “Hold” and an average price target of $33.60.

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MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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