MCF Advisors LLC Buys 3,744 Shares of MGM Resorts International (NYSE:MGM)

MCF Advisors LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,075 shares of the company’s stock after purchasing an additional 3,744 shares during the period. MCF Advisors LLC’s holdings in MGM Resorts International were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ballentine Partners LLC increased its stake in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares during the period. Ameritas Advisory Services LLC grew its holdings in MGM Resorts International by 6.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock worth $926,000 after acquiring an additional 1,585 shares during the last quarter. Merit Financial Group LLC acquired a new position in MGM Resorts International in the 4th quarter valued at approximately $243,000. Empirical Asset Management LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at $3,418,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after purchasing an additional 159,522 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $33.36 on Wednesday. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The stock has a market capitalization of $9.93 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. The company’s 50-day moving average is $35.43 and its 200-day moving average is $37.93. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that MGM Resorts International will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MGM. Barclays decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, January 16th. Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group dropped their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.93.

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.