Farther Finance Advisors LLC Increases Stock Position in MGM Resorts International (NYSE:MGM)

Farther Finance Advisors LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,830 shares of the company’s stock after buying an additional 2,145 shares during the quarter. Farther Finance Advisors LLC’s holdings in MGM Resorts International were worth $410,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MGM. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the third quarter worth about $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $28,000. Assetmark Inc. grew its stake in shares of MGM Resorts International by 104.1% in 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 last quarter. Global Retirement Partners LLC increased its position 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 valued at $43,000 after buying an additional 404 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in MGM Resorts International during the third quarter valued at $44,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Up 2.1 %

MGM opened at $32.43 on Tuesday. The firm’s 50 day simple moving average is $34.06 and its two-hundred day simple moving average is $36.21. The company has a market capitalization of $9.26 billion, a PE ratio of 13.51, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 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%. As a group, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MGM shares. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

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.