Larson Financial Group LLC Buys 2,500 Shares of MGM Resorts International (NYSE:MGM)

Larson Financial Group LLC raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 969.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,758 shares of the company’s stock after acquiring an additional 2,500 shares during the quarter. Larson Financial Group LLC’s holdings in MGM Resorts International were worth $108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MGM shares. Barclays dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Truist Financial lowered their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Mizuho lowered their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Morgan Stanley lifted their target price on shares of 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.85.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly 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 filing with the SEC, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $37.37 on Friday. The company’s 50-day moving average price is $38.69 and its 200-day moving average price is $39.65. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market cap of $11.13 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 2.74 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last posted its 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 return on equity of 25.84% and a net margin of 5.23%. The business 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 earned $0.64 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post 2.5 EPS 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.