Livforsakringsbolaget Skandia Omsesidigt Grows Holdings in MGM Resorts International (NYSE:MGM)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in MGM Resorts International (NYSE:MGM) by 540.5% during the third quarter, HoldingsChannel reports. The firm owned 2,607 shares of the company’s stock after buying an additional 2,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in MGM Resorts International were worth $102,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. raised its stake in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of MGM Resorts International during the second quarter worth $49,000. Finally, Quent Capital LLC grew its position in MGM Resorts International by 14.6% in the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after buying an additional 304 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MGM. BTIG Research began coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut their target price on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Susquehanna lifted their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley cut their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.14.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the purchase, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, with a total value of $340,000.00. Following the purchase, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 121,000 shares of the stock in a transaction 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 transaction, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 216,400 shares of company stock worth $7,312,197 over the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Price Performance

MGM stock opened at $39.39 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The stock’s 50 day moving average price is $37.98 and its 200 day moving average price is $40.59. The firm has a market cap of $12.36 billion, a P/E ratio of 15.15, a PEG ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

MGM Resorts International 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.