MGM Resorts International (NYSE:MGM) Shares Purchased by Amalgamated Bank

Amalgamated Bank raised its holdings in MGM Resorts International (NYSE:MGM) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,511 shares of the company’s stock after buying an additional 622 shares during the period. Amalgamated Bank’s holdings in MGM Resorts International were worth $3,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. grew its holdings in MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the period. Accent Capital Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $45,000. Finally, Mendota Financial Group LLC grew its position in MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $37.31 on Monday. The business has a 50 day simple moving average of $38.92 and a 200 day simple moving average of $41.21. 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 capitalization of $11.70 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.64 and a beta of 2.22. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 2.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MGM shares. Morgan Stanley dropped their price target on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Susquehanna increased their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Macquarie decreased their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now directly owns 377,112 shares in the company, valued at $12,719,987.76. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO William Hornbuckle bought 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. The disclosure for this purchase can be found here. Insiders bought 216,400 shares of company stock valued at $7,312,197 over the last 90 days. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International 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.