Raleigh Capital Management Inc. Buys 982 Shares of MGM Resorts International (NYSE:MGM)

Raleigh Capital Management Inc. grew its stake in shares of MGM Resorts International (NYSE:MGM) by 105.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,911 shares of the company’s stock after buying an additional 982 shares during the period. Raleigh Capital Management Inc.’s holdings in MGM Resorts International were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MGM. International Assets Investment Management LLC bought a new position in MGM Resorts International during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. boosted its position 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 in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $49,000. Finally, Blue Trust Inc. increased its position in shares of MGM Resorts International by 120.6% in the 3rd quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock valued at $53,000 after buying an additional 737 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem acquired 147,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other MGM Resorts International news, Director Paul J. Salem bought 147,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the acquisition, the director now owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $34.00 per share, with a total value of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 216,400 shares of company stock worth $7,312,197. Insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGM. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JMP Securities decreased their price objective on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a research report on Monday, October 14th. Barclays cut their price target on shares of MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, BTIG Research initiated coverage on shares of 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $53.64.

MGM Resorts International Stock Up 0.1 %

MGM stock opened at $40.52 on Wednesday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a market cap of $12.71 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 0.92 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The business has a 50 day moving average price of $38.30 and a two-hundred day moving average price of $40.38.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 2.55 EPS for the current fiscal year.

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.