MGM Resorts International (NYSE:MGM) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its holdings in MGM Resorts International (NYSE:MGM) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,417 shares of the company’s stock after purchasing an additional 469 shares during the period. Commonwealth Equity Services LLC’s holdings in MGM Resorts International were worth $5,073,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MGM. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $97,725,000. Goldentree Asset Management LP raised its position in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Davis Selected Advisers raised its position in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $20,053,000. Finally, Amundi raised its position in shares of MGM Resorts International by 207.5% during the 4th quarter. Amundi now owns 836,144 shares of the company’s stock valued at $27,334,000 after acquiring an additional 564,202 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MGM shares. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Truist Financial dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Price Performance

NYSE:MGM opened at $31.42 on Friday. The business’s 50-day moving average price is $34.02 and its 200 day moving average price is $36.07. The firm has a market cap of $8.97 billion, a P/E ratio of 13.09, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 52-week low of $29.99 and a 52-week high of $48.25. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.