MGM Resorts International (NYSE:MGM) Position Increased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lifted its position in MGM Resorts International (NYSE:MGM) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,562 shares of the company’s stock after acquiring an additional 2,275 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in MGM Resorts International were worth $1,366,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new position in MGM Resorts International during the 4th quarter worth approximately $28,000. Sandy Spring Bank grew its stake in MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after purchasing an additional 500 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of MGM Resorts International by 49.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter. Finally, Huntington National Bank increased its position in MGM Resorts International by 46.7% during the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock worth $73,000 after buying an additional 636 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $41.01 on Tuesday. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The stock has a fifty day moving average price of $43.50 and a two-hundred day moving average price of $42.36. The firm has a market capitalization of $12.86 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.95 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. As a group, analysts anticipate that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MGM has been the topic of a number of analyst reports. Barclays increased their price objective on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Bank Of America (Bofa) boosted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley raised their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Mizuho boosted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.