Stifel Financial Corp Has $6.64 Million Stake in MGM Resorts International (NYSE:MGM)

Stifel Financial Corp grew its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 13.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 169,829 shares of the company's stock after buying an additional 20,542 shares during the period. Stifel Financial Corp owned approximately 0.06% of MGM Resorts International worth $6,639,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in MGM Resorts International in the 2nd quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $35,000. UMB Bank n.a. increased its stake in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company's stock valued at $42,000 after acquiring an additional 237 shares during the period. Finally, Brooklyn Investment Group acquired a new position in MGM Resorts International in the third quarter worth about $44,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.13% of the company's stock.

MGM Resorts International Trading Down 1.5 %

MGM stock traded down $0.55 during trading on Friday, hitting $36.25. The company had a trading volume of 2,843,383 shares, compared to its average volume of 4,063,788. The firm has a 50-day moving average price of $38.37 and a 200-day moving average price of $39.37. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The stock has a market cap of $10.79 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company's revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, analysts predict that MGM Resorts International will post 2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial lowered their price objective on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Mizuho lowered their price target on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. JMP Securities dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating for the company in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Finally, UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average price target of $52.54.

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.