Posted by admin on Jul 24th, 2022 
Park Avenue Securities LLC boosted its holdings in shares of MGM Resorts International (NYSE:MGM – Get Rating) by 58.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,893 shares of the company’s stock after purchasing an additional 5,495 shares during the period. Park Avenue Securities LLC’s holdings in MGM Resorts International were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Chilton Capital Management LLC acquired a new position in shares of MGM Resorts International in the fourth quarter worth about $25,000. UMB Bank N A MO acquired a new position in shares of MGM Resorts International in the fourth quarter worth about $29,000. GPS Wealth Strategies Group LLC raised its position in shares of MGM Resorts International by 280.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock worth $32,000 after acquiring an additional 560 shares during the period. Creative Financial Designs Inc. ADV raised its position in shares of MGM Resorts International by 60.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 800 shares of the company’s stock worth $36,000 after acquiring an additional 300 shares during the period. Finally, Horan Securities Inc. acquired a new position in shares of MGM Resorts International in the fourth quarter worth about $45,000. 85.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE MGM opened at $30.94 on Friday. MGM Resorts International has a 12-month low of $26.41 and a 12-month high of $51.17. The stock has a market cap of $13.18 billion, a PE ratio of 10.05 and a beta of 2.17. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $31.25 and a 200 day moving average of $38.27.
MGM Resorts International (NYSE:MGM – Get Rating) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter in the prior year, the company posted ($0.68) EPS. As a group, sell-side analysts predict that MGM Resorts International will post 0.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 10th were paid a $0.0025 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. MGM Resorts International’s dividend payout ratio (DPR) is 0.32%.
MGM has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $52.00 to $48.00 in a research report on Friday, May 20th. Morgan Stanley reduced their price target on shares of MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. JMP Securities assumed coverage on shares of MGM Resorts International in a research report on Tuesday, June 28th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Truist Financial reduced their price target on shares of MGM Resorts International from $48.00 to $35.00 and set a “hold” rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.82.
In other news, Director Paul J. Salem purchased 34,500 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was acquired at an average price of $28.92 per share, with a total value of $997,740.00. Following the purchase, the director now directly owns 1,555,000 shares in the company, valued at approximately $44,970,600. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Paul J. Salem acquired 34,500 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average price of $28.92 per share, with a total value of $997,740.00. Following the transaction, the director now owns 1,555,000 shares of the company’s stock, valued at approximately $44,970,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul J. Salem acquired 3,500 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were bought at an average cost of $31.25 per share, with a total value of $109,375.00. Following the transaction, the director now directly owns 1,520,500 shares in the company, valued at approximately $47,515,625. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.
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MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.
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