Janney Montgomery Scott LLC Grows Stock Position in MGM Resorts International (NYSE:MGM)

Janney Montgomery Scott LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,021 shares of the company’s stock after buying an additional 3,285 shares during the quarter. Janney Montgomery Scott LLC’s holdings in MGM Resorts International were worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the period. Texas Permanent School Fund Corp raised its holdings in shares of MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after buying an additional 245 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after buying an additional 278 shares during the period. HB Wealth Management LLC raised its holdings in shares of MGM Resorts International by 6.3% during the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after buying an additional 293 shares during the period. Finally, US Bancorp DE raised its holdings in shares of MGM Resorts International by 1.3% during the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock valued at $1,112,000 after buying an additional 298 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 0.1 %

NYSE:MGM opened at $36.72 on Tuesday. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.62 and a beta of 2.23. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The business’s fifty day moving average price is $38.32 and its 200 day moving average price is $39.90.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, sell-side analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Truist Financial dropped their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Mizuho dropped their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

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.