Sequoia Financial Advisors LLC lifted its stake in MGM Resorts International (NYSE:MGM – Free Report) by 149.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,930 shares of the company’s stock after purchasing an additional 20,939 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MGM Resorts International were worth $1,293,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC purchased a new stake in MGM Resorts International during the 2nd quarter valued at $25,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after buying an additional 281 shares during the period. Elyxium Wealth LLC purchased a new position in MGM Resorts International during the fourth quarter worth $42,000. City Holding Co. bought a new position in MGM Resorts International during the fourth quarter valued at $44,000. Finally, Stance Capital LLC purchased a new stake in shares of MGM Resorts International in the third quarter valued at $46,000. Institutional investors own 68.11% of the company’s stock.
MGM Resorts International Trading Up 0.1%
Shares of MGM opened at $46.88 on Friday. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 65.12 and a beta of 1.29. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The company has a 50-day moving average of $44.61 and a 200 day moving average of $39.25.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MGM. Mizuho lowered their target price on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Wells Fargo & Company upgraded shares of MGM Resorts International from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $33.00 to $48.30 in a report on Tuesday, July 7th. Capital One Financial increased their price objective on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Susquehanna boosted their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “positive” rating in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and a consensus price target of $52.31.
View Our Latest Report on MGM Resorts International
Insider Buying and Selling
In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of MGM Resorts International stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.38% of the stock is owned by insiders.
MGM Resorts International Company Profile
MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.
The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.
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