Vanguard Personalized Indexing Management LLC Grows Position in MGM Resorts International (NYSE:MGM)

Vanguard Personalized Indexing Management LLC increased its position in MGM Resorts International (NYSE:MGM) by 8.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 41,768 shares of the company’s stock after purchasing an additional 3,255 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in MGM Resorts International were worth $1,852,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of MGM Resorts International by 0.8% in the 2nd quarter. Amalgamated Bank now owns 79,511 shares of the company’s stock worth $3,533,000 after buying an additional 622 shares during the period. Edgestream Partners L.P. bought a new stake in MGM Resorts International during the second quarter worth about $766,000. Savoir Faire Capital Management L.P. bought a new stake in MGM Resorts International during the second quarter worth about $1,954,000. Menard Financial Group LLC increased its stake in shares of MGM Resorts International by 29.6% during the second quarter. Menard Financial Group LLC now owns 8,518 shares of the company’s stock valued at $379,000 after purchasing an additional 1,944 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in shares of MGM Resorts International during the second quarter valued at approximately $214,000. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MGM shares. BTIG Research assumed coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company reduced their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. JMP Securities dropped their price target on shares of MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 1st. Macquarie reduced their price objective on shares of 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. Finally, Morgan Stanley reduced their price objective on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

MGM Resorts International Trading Down 1.2 %

Shares of MGM stock opened at $37.31 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The stock has a market capitalization of $11.70 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.64 and a beta of 2.22. The firm’s 50 day moving average is $38.92 and its 200 day moving average is $41.21.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Research analysts expect that MGM Resorts International will post 2.68 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 216,400 shares of company stock valued at $7,312,197. 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.