D.A. Davidson & CO. Acquires 89,647 Shares of MGM Resorts International (NYSE:MGM)

D.A. Davidson & CO. increased its position in MGM Resorts International (NYSE:MGM - Free Report) by 42.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,733 shares of the company's stock after acquiring an additional 89,647 shares during the quarter. D.A. Davidson & CO. owned about 0.10% of MGM Resorts International worth $11,717,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International during the 2nd quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock worth $41,000 after buying an additional 329 shares during the last quarter. Eastern Bank purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at $35,000. Finally, UMB Bank n.a. lifted 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 worth $42,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Down 0.5 %

NYSE:MGM traded down $0.18 during mid-day trading on Wednesday, reaching $37.37. 3,178,679 shares of the company's stock traded hands, compared to its average volume of 4,087,898. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. 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 company has a 50 day moving average price of $38.68 and a 200-day moving average price of $39.67. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 2.74 and a beta of 2.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. On average, sell-side analysts predict that MGM Resorts International will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGM. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. UBS Group raised MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Truist Financial cut their target price on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research note on Thursday, August 1st. Finally, Barclays cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.85.

Insider Activity

In other news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.