Venturi Wealth Management LLC Acquires 1,295 Shares of MGM Resorts International (NYSE:MGM)

Venturi Wealth Management LLC raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 52.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,754 shares of the company’s stock after purchasing an additional 1,295 shares during the period. Venturi Wealth Management LLC’s holdings in MGM Resorts International were worth $147,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MGM. Marshall Wace LLP boosted its holdings in MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in MGM Resorts International during the 2nd quarter valued at about $1,211,000. Wedge Capital Management L L P NC bought a new stake in MGM Resorts International during the 2nd quarter valued at about $3,314,000. State Board of Administration of Florida Retirement System raised its holdings in MGM Resorts International by 3.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 429,611 shares of the company’s stock worth $19,083,000 after buying an additional 13,292 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after buying an additional 684,676 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 3.3 %

Shares of MGM Resorts International stock opened at $37.98 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $11.31 billion, a PE ratio of 13.56, a P/E/G ratio of 2.62 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. The company’s fifty day simple moving average is $38.36 and its 200-day simple moving average is $39.86.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 121,000 shares of the company’s 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 completion of the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Mizuho decreased their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Barclays dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

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.