Daymark Wealth Partners LLC Has $1.30 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Daymark Wealth Partners LLC boosted its position in shares of MGM Resorts International (NYSE:MGM) by 244.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,172 shares of the company’s stock after purchasing an additional 20,702 shares during the period. Daymark Wealth Partners LLC’s holdings in MGM Resorts International were worth $1,296,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its holdings in MGM Resorts International by 17.7% during the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after buying an additional 984,617 shares in the last quarter. Boston Partners raised its stake in shares of MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in MGM Resorts International by 5.2% in the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after purchasing an additional 213,528 shares during the last quarter. Bamco Inc. NY boosted its position in MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock worth $99,191,000 after purchasing an additional 73,515 shares during the period. Finally, Marshall Wace LLP boosted its position in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 3.0 %

Shares of MGM opened at $38.31 on Friday. The business’s fifty day moving average price is $38.22 and its two-hundred day moving average price is $41.08. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.68 and a beta of 2.22. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47.

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, beating the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts predict that MGM Resorts International will post 2.63 earnings per share for the current year.

Insider Activity

In other MGM Resorts International news, CEO William Hornbuckle acquired 58,900 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 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 $1,302,166. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William Hornbuckle bought 58,900 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MGM shares. 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 research note on Thursday, August 1st. Stifel Nicolaus raised their price target on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JMP Securities dropped their price objective on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company decreased 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. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.93.

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.