Freedom Day Solutions LLC Buys Shares of 36,790 MGM Resorts International (NYSE:MGM)

Freedom Day Solutions LLC purchased a new position in MGM Resorts International (NYSE:MGM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,790 shares of the company’s stock, valued at approximately $1,438,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. raised its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after buying an additional 245 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after buying an additional 278 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of MGM Resorts International by 6.3% during the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after acquiring an additional 293 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of MGM Resorts International by 1.3% in the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock valued at $1,112,000 after acquiring an additional 298 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MGM shares. Deutsche Bank Aktiengesellschaft decreased their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Macquarie cut their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities lowered their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.08.

MGM Resorts International Stock Performance

NYSE:MGM opened at $40.10 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The firm has a market cap of $12.58 billion, a PE ratio of 15.42, a P/E/G ratio of 0.92 and a beta of 2.23. The firm has a 50 day simple moving average of $38.35 and a 200-day simple moving average of $40.37. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm posted $0.59 EPS. MGM Resorts International’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that MGM Resorts International will post 2.55 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by company insiders.

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.