MGM Resorts International (NYSE:MGM) Holdings Raised by Menard Financial Group LLC

Menard Financial Group LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,518 shares of the company’s stock after acquiring an additional 1,944 shares during the period. Menard Financial Group LLC’s holdings in MGM Resorts International were worth $379,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the second quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares during the period. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the period. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter worth about $45,000. Finally, Mendota Financial Group LLC lifted its position in MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after purchasing an additional 266 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, Director Paul J. Salem bought 147,500 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Salem acquired 147,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 216,400 shares of company stock worth $7,312,197. Insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the topic of a number of research analyst reports. Susquehanna raised their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. BTIG Research assumed coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Stifel Nicolaus boosted their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Macquarie decreased their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Trading Up 1.7 %

MGM Resorts International stock opened at $36.51 on Monday. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The stock has a market cap of $11.45 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.64 and a beta of 2.22. The company’s fifty day simple moving average is $39.67 and its 200-day simple moving average is $41.39.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that MGM Resorts International will post 2.68 EPS for the current fiscal year.

MGM Resorts International 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.