Commonwealth Equity Services LLC Has $5.07 Million Holdings in MGM Resorts International (NYSE:MGM)

Commonwealth Equity Services LLC grew its position in shares of MGM Resorts International (NYSE:MGM) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,417 shares of the company’s stock after buying an additional 469 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MGM Resorts International were worth $5,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MGM. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at about $28,000. Assetmark Inc. lifted its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $44,000. Finally, Modus Advisors LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at about $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the subject of several research reports. Truist Financial reduced their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, February 14th. Finally, Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $31.42 on Friday. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25. The firm has a market capitalization of $8.97 billion, a PE ratio of 13.09, a PEG ratio of 0.98 and a beta of 2.18. The business’s 50 day moving average is $34.02 and its 200-day moving average is $36.07. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current 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.