Farther Finance Advisors LLC Boosts Holdings in MGM Resorts International (NYSE:MGM)

Farther Finance Advisors LLC raised its stake in shares of MGM Resorts International (NYSE:MGM) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,830 shares of the company’s stock after buying an additional 2,145 shares during the quarter. Farther Finance Advisors LLC’s holdings in MGM Resorts International were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International in the 4th quarter worth $28,000. Assetmark Inc. boosted its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of MGM Resorts International in the third quarter worth about $44,000. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MGM shares. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

MGM stock opened at $32.43 on Tuesday. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.98 and a beta of 2.18. The business’s fifty day simple moving average is $34.06 and its two-hundred day simple moving average is $36.21. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Profile

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.