MGM Resorts International (NYSE:MGM) Shares Purchased by Atria Investments Inc

Atria Investments Inc boosted its holdings in MGM Resorts International (NYSE:MGM) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,238 shares of the company’s stock after buying an additional 1,300 shares during the period. Atria Investments Inc’s holdings in MGM Resorts International were worth $1,456,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new stake in MGM Resorts International in the 2nd quarter worth about $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at about $49,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

MGM has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Susquehanna raised their target price on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.15.

MGM Resorts International Price Performance

MGM stock opened at $37.27 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The stock’s 50 day moving average is $38.44 and its two-hundred day moving average is $39.81. The company has a market capitalization of $11.10 billion, a PE ratio of 13.31, a P/E/G ratio of 2.71 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.64 earnings per share. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. Analysts predict that MGM Resorts International will post 2.5 earnings per share for the current fiscal 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.