Freedom Day Solutions LLC Acquires Shares of 36,790 MGM Resorts International (NYSE:MGM)

Freedom Day Solutions LLC purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 36,790 shares of the company's stock, valued at approximately $1,438,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MGM. International Assets Investment Management LLC purchased a new position in MGM Resorts International in the second 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 valued at $41,000 after acquiring an additional 329 shares during the period. Eastern Bank acquired a new position in MGM Resorts International in the 3rd quarter valued at $35,000. UMB Bank n.a. increased its stake in MGM Resorts International by 33.3% in 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. Finally, Ashton Thomas Private Wealth LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Trading Up 0.7 %

NYSE MGM traded up $0.27 on Friday, reaching $40.37. The company had a trading volume of 2,345,219 shares, compared to its average volume of 4,048,621. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The stock's 50 day moving average is $38.35 and its 200-day moving average is $40.37. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.97 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. MGM Resorts International's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities analysts predict that MGM Resorts International will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on MGM shares. UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research report on Friday, August 23rd. BTIG Research started coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They set a "buy" rating and a $52.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Barclays lowered their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. Finally, Macquarie reduced their target price on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.08.

Insider Transactions at MGM Resorts International

In other news, Director Paul J. Salem acquired 147,500 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares of the company's stock, valued at approximately $57,544,500. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the purchase, the chief financial officer now directly owns 38,299 shares of the company's stock, valued at approximately $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Salem acquired 147,500 shares of the company's stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the purchase, the director now directly owns 1,702,500 shares of the company's stock, valued at approximately $57,544,500. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 216,400 shares of company stock valued at $7,312,197 over the last three months. Company insiders own 2.13% of the company's stock.

About MGM Resorts International

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.