MGM Resorts International (NYSE:MGM) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,997 shares of the company’s stock after purchasing an additional 681 shares during the period. Apollon Wealth Management LLC’s holdings in MGM Resorts International were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the 2nd quarter valued at approximately $28,000. 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 in the last quarter. Eastern Bank purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $35,000. 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.6 %

MGM stock opened at $37.28 on Monday. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 2.66 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. The business has a fifty day simple moving average of $38.44 and a 200-day simple moving average of $39.82. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MGM shares. Morgan Stanley upped their target price 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. Deutsche Bank Aktiengesellschaft reduced their target price 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. Wells Fargo & Company reduced their target price 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. Macquarie cut their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the company’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 completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.13% of the stock is owned by insiders.

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.