Menard Financial Group LLC Buys 1,769 Shares of MGM Resorts International (NYSE:MGM)

Menard Financial Group LLC grew its position in MGM Resorts International (NYSE:MGM) by 20.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,287 shares of the company’s stock after purchasing an additional 1,769 shares during the quarter. Menard Financial Group LLC’s holdings in MGM Resorts International were worth $402,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised 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 valued at $42,000 after purchasing an additional 237 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after acquiring an additional 278 shares during the last quarter. HB Wealth Management LLC raised its position in MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after purchasing an additional 293 shares during the period. Quent Capital LLC boosted its holdings in MGM Resorts International by 14.6% during the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after acquiring an additional 304 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’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 in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on MGM. Barclays decreased their price objective 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. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, 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 report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $37.51 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm’s 50 day moving average is $38.73 and its two-hundred day moving average is $39.54. The firm has a market capitalization of $11.17 billion, a P/E ratio of 13.40, a PEG ratio of 2.73 and a beta of 2.20. 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 data 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). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

MGM Resorts International Company 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.