MGM Resorts International (NYSE:MGM) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC raised its stake in MGM Resorts International (NYSE:MGM) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,242 shares of the company’s stock after acquiring an additional 623 shares during the period. Lake Street Advisors Group LLC’s holdings in MGM Resorts International were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the second quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares during the period. Eastern Bank acquired a new stake in shares of MGM Resorts International during the third quarter worth about $35,000. UMB Bank n.a. boosted its stake 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 buying an additional 237 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of MGM Resorts International during the second quarter worth about $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Macquarie decreased their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. BTIG Research began coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price objective for the company. Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, Barclays reduced their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $54.08.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William Hornbuckle purchased 58,900 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the purchase, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul J. Salem purchased 147,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the purchase, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 216,400 shares of company stock worth $7,312,197 in the last quarter. 2.13% of the stock is owned by insiders.

MGM Resorts International Stock Up 0.6 %

MGM stock opened at $40.36 on Monday. The stock has a market capitalization of $12.26 billion, a P/E ratio of 15.23, a PEG ratio of 0.97 and a beta of 2.23. 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 has a one year low of $33.44 and a one year high of $48.24. The company has a 50 day moving average price of $38.38 and a two-hundred day moving average price of $40.26.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. As a group, sell-side analysts expect that MGM Resorts International will post 2.54 EPS for the current year.

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.