Oppenheimer & Co. Inc. Has $2.09 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Oppenheimer & Co. Inc. lowered its stake in MGM Resorts International (NYSE:MGM) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,971 shares of the company’s stock after selling 388 shares during the period. Oppenheimer & Co. Inc.’s holdings in MGM Resorts International were worth $2,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Qsemble Capital Management LP boosted its holdings in shares of MGM Resorts International by 1,230.6% during the 2nd quarter. Qsemble Capital Management LP now owns 58,321 shares of the company’s stock valued at $2,592,000 after acquiring an additional 53,938 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of MGM Resorts International by 2.9% during the second quarter. Daiwa Securities Group Inc. now owns 28,007 shares of the company’s stock valued at $1,245,000 after purchasing an additional 797 shares in the last quarter. Andra AP fonden grew its holdings in shares of MGM Resorts International by 19.1% during the second quarter. Andra AP fonden now owns 204,000 shares of the company’s stock worth $9,066,000 after purchasing an additional 32,700 shares during the last quarter. Choreo LLC acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $337,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in MGM Resorts International in the 2nd quarter valued at approximately $49,000. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on MGM shares. Morgan Stanley decreased their price target on shares of 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. Stifel Nicolaus increased their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities cut their target price on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, August 1st. Macquarie reduced their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Susquehanna raised their price objective 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Trading Down 0.2 %

NYSE:MGM opened at $36.44 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The firm has a fifty day simple moving average of $39.67 and a two-hundred day simple moving average of $41.39. The stock has a market capitalization of $11.43 billion, a price-to-earnings ratio of 14.02, a PEG 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 posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that MGM Resorts International will post 2.68 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the purchase, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Paul J. Salem bought 147,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the acquisition, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Hornbuckle purchased 58,900 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Insiders have bought a total of 216,400 shares of company stock worth $7,312,197 in the last ninety days. 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.