MGM Resorts International (NYSE:MGM) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,571,492 shares of the company's stock after purchasing an additional 62,997 shares during the period. Empower Advisory Group LLC owned about 0.53% of MGM Resorts International worth $61,430,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 329 shares during the period. UMB Bank n.a. grew 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 period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Up 3.3 %

MGM stock traded up $1.22 during trading on Wednesday, hitting $37.97. 2,780,837 shares of the company's stock traded hands, compared to its average volume of 4,117,688. The firm has a market capitalization of $11.31 billion, a P/E ratio of 13.41, a PEG ratio of 2.62 and a beta of 2.23. The business has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $39.87. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) 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 analysts' expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business's quarterly 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 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MGM has been the topic of a number of research analyst reports. Macquarie reduced their target price on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Barclays dropped their price target on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Susquehanna boosted their price target 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. Truist Financial dropped their price target on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Finally, JMP Securities lowered their price objective on MGM Resorts International from $56.00 to $54.00 and set a "market outperform" rating on the stock in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $53.15.

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.