Prosperity Financial Group Inc. Has $494,000 Holdings in MGM Resorts International (NYSE:MGM)

Prosperity Financial Group Inc. boosted its stake in shares of MGM Resorts International (NYSE:MGM) by 18.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,249 shares of the company’s stock after buying an additional 2,187 shares during the period. Prosperity Financial Group Inc.’s holdings in MGM Resorts International were worth $494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. raised its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the period. Global Retirement Partners LLC raised its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in MGM Resorts International during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.8 %

Shares of MGM Resorts International stock opened at $31.31 on Wednesday. The stock has a market capitalization of $8.94 billion, a P/E ratio of 13.04, a PEG ratio of 0.98 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock has a 50 day moving average price of $34.35 and a two-hundred day moving average price of $36.44. MGM Resorts International has a 12-month low of $30.69 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

MGM has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Capital One Financial upped their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Stifel Nicolaus upped their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

About MGM Resorts International

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.