Venturi Wealth Management LLC Buys 1,295 Shares of MGM Resorts International (NYSE:MGM)

Venturi Wealth Management LLC lifted its stake in MGM Resorts International (NYSE:MGM) by 52.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,754 shares of the company’s stock after buying an additional 1,295 shares during the quarter. Venturi Wealth Management LLC’s holdings in MGM Resorts International were worth $147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after buying an additional 278 shares in the last quarter. HB Wealth Management LLC boosted its stake in MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after buying an additional 293 shares during the last quarter. US Bancorp DE grew its holdings in MGM Resorts International by 1.3% during the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock valued at $1,112,000 after buying an additional 298 shares in the last quarter. Finally, Quent Capital LLC increased its stake in MGM Resorts International by 14.6% in the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after acquiring an additional 304 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

MGM opened at $37.98 on Thursday. The business has a fifty day moving average of $38.36 and a 200 day moving average of $39.86. The stock has a market cap of $11.31 billion, a P/E ratio of 13.56, a PEG ratio of 2.62 and a beta of 2.23. 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.

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGM. Susquehanna increased their target price on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price objective 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. Deutsche Bank Aktiengesellschaft decreased their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Barclays dropped their price target on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.15.

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.