MGM Resorts International $MGM Shares Purchased by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.4% in the second quarter, Holdings Channel reports. The firm owned 31,482 shares of the company’s stock after buying an additional 1,337 shares during the quarter. Ameritas Advisory Services LLC’s holdings in MGM Resorts International were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its stake in MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 455 shares during the period. CX Institutional purchased a new stake in shares of MGM Resorts International in the first quarter valued at about $36,000. Bayforest Capital Ltd purchased a new stake in shares of MGM Resorts International in the first quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of MGM Resorts International by 66.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after acquiring an additional 529 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 91.0% in the first quarter. UMB Bank n.a. now owns 1,616 shares of the company’s stock valued at $48,000 after acquiring an additional 770 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 2.4%

Shares of NYSE MGM opened at $33.93 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $42.53. The firm has a 50-day moving average price of $36.26 and a 200 day moving average price of $34.01. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.44 and a beta of 1.67.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.58 by $0.21. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the transaction, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. This trade represents a 65.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho lowered their target price on shares of MGM Resorts International from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, September 22nd. Susquehanna lifted their target price on shares of MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. assumed coverage on shares of MGM Resorts International in a report on Monday, June 23rd. They issued a “neutral” rating and a $38.00 target price on the stock. Truist Financial lifted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MGM Resorts International in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.50.

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.