NuWave Investment Management LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,920 shares of the company’s stock, valued at approximately $197,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MGM. Thrivent Financial For Lutherans bought a new stake in MGM Resorts International during the second quarter worth $250,000. Janus Henderson Group PLC lifted its stake in MGM Resorts International by 1,978.3% during the second quarter. Janus Henderson Group PLC now owns 1,106,856 shares of the company’s stock worth $34,634,000 after purchasing an additional 1,053,597 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in MGM Resorts International by 44.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,284 shares of the company’s stock worth $1,542,000 after purchasing an additional 15,071 shares during the last quarter. Nomura Holdings Inc. lifted its stake in MGM Resorts International by 233.3% during the second quarter. Nomura Holdings Inc. now owns 13,279 shares of the company’s stock worth $416,000 after purchasing an additional 23,239 shares during the last quarter. Finally, National Asset Management Inc. bought a new stake in MGM Resorts International during the second quarter worth $223,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Several equities research analysts have weighed in on MGM shares. JPMorgan Chase & Co. restated an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Stifel Nicolaus cut MGM Resorts International from a “buy” rating to a “hold” rating and cut their target price for the stock from $38.00 to $33.00 in a research note on Wednesday, October 18th. Jefferies Group started coverage on MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 target price for the company. Zacks Investment Research upgraded MGM Resorts International from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, Nomura cut their target price on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $37.38.

In other news, Director Sean Charland purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was bought at an average cost of $22.50 per share, for a total transaction of $562,500.00. Also, Director William A. Bible sold 6,128 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the completion of the transaction, the director now owns 27,081 shares of the company’s stock, valued at $899,901.63. The disclosure for this sale can be found here. 12.20% of the stock is currently owned by corporate insiders.

MGM Resorts International (MGM) opened at $33.13 on Wednesday. MGM Resorts International has a 12 month low of $25.15 and a 12 month high of $38.41. The company has a market capitalization of $18,795.79, a price-to-earnings ratio of 32.48, a PEG ratio of 5.83 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26.

TRADEMARK VIOLATION NOTICE: “NuWave Investment Management LLC Invests $197,000 in MGM Resorts International (MGM) Stock” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://theolympiareport.com/2018/02/14/nuwave-investment-management-llc-invests-197000-in-mgm-resorts-international-mgm-stock.html.

About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.