Merit Financial Group LLC Acquires New Shares in MGM Resorts International (NYSE:MGM)

Merit Financial Group LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,008 shares of the company’s stock, valued at approximately $243,000.

Other institutional investors have also added to or reduced their stakes in the company. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International during the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP boosted its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in MGM Resorts International during the 3rd quarter valued at $17,622,000. ArrowMark Colorado Holdings LLC increased its holdings in shares of MGM Resorts International by 207.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after acquiring an additional 442,975 shares during the period. Finally, American Assets Capital Advisers LLC raised its position in shares of MGM Resorts International by 135.0% in the 3rd quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company’s stock worth $18,355,000 after acquiring an additional 269,761 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.7 %

MGM Resorts International stock opened at $32.90 on Friday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The stock has a market capitalization of $9.79 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The business has a 50 day simple moving average of $35.15 and a 200-day simple moving average of $37.75.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $0.64 EPS. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that MGM Resorts International will post 2.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGM shares. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Truist Financial cut their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $51.93.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.13% of the company’s stock.

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.