IFP Advisors Inc Has $167,000 Position in MGM Resorts International (NYSE:MGM)

IFP Advisors Inc raised its position in MGM Resorts International (NYSE:MGM) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,824 shares of the company’s stock after acquiring an additional 702 shares during the quarter. IFP Advisors Inc’s holdings in MGM Resorts International were worth $167,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Empower Advisory Group LLC lifted its stake in MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the last quarter. Goldentree Asset Management LP lifted its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in MGM Resorts International in the fourth quarter valued at $2,010,000. Assenagon Asset Management S.A. lifted its stake in MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after acquiring an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management lifted its stake in MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after acquiring an additional 29,107 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MGM. Leerink Partners cut shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Capital One Financial raised their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Price Performance

MGM stock opened at $33.22 on Tuesday. 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 has a 12 month low of $31.61 and a 12 month high of $48.24. The firm has a market cap of $9.49 billion, a P/E ratio of 13.84, a P/E/G ratio of 0.98 and a beta of 2.20. The company’s 50-day moving average price is $34.62 and its two-hundred day moving average price is $36.73.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

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.