Freedom Day Solutions LLC Buys 5,750 Shares of MGM Resorts International (NYSE:MGM)

Freedom Day Solutions LLC boosted its stake in shares of MGM Resorts International (NYSE:MGM) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,540 shares of the company’s stock after buying an additional 5,750 shares during the quarter. Freedom Day Solutions LLC’s holdings in MGM Resorts International were worth $1,474,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International during the third quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the fourth quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International during the third quarter worth about $35,000. Global Retirement Partners LLC boosted its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Finally, Brooklyn Investment Group bought a new position in MGM Resorts International during the third quarter worth about $44,000. 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 business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MGM shares. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, February 14th. Susquehanna Bancshares increased their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Stock Up 0.8 %

Shares of NYSE MGM opened at $38.38 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The firm’s fifty day moving average is $34.51 and its 200 day moving average is $36.78. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.24 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities research analysts expect that MGM Resorts International will post 2.19 earnings per share for the current 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.