MCF Advisors LLC Purchases 3,744 Shares of MGM Resorts International (NYSE:MGM)

MCF Advisors LLC grew its position in shares of MGM Resorts International (NYSE:MGM) by 20.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,075 shares of the company’s stock after buying an additional 3,744 shares during the quarter. MCF Advisors LLC’s holdings in MGM Resorts International were worth $765,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International during the third quarter worth $28,000. Eastern Bank bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $44,000. Planning Capital Management Corp purchased a new position in shares of MGM Resorts International in the 3rd quarter worth about $45,000. Finally, Modus Advisors LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MGM has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, January 16th. Mizuho decreased their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Truist Financial lowered their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley increased their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lowered their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Trading Up 1.5 %

MGM Resorts International stock opened at $33.36 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The stock has a market cap of $9.93 billion, a P/E ratio of 11.91, a PEG ratio of 3.06 and a beta of 2.21. The firm’s fifty day moving average price is $35.43 and its 200-day moving average price is $37.93.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.41 earnings per share for the current fiscal year.

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.