74,580 Shares in MGM Resorts International (NYSE:MGM) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new stake in MGM Resorts International (NYSE:MGM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 74,580 shares of the company’s stock, valued at approximately $3,314,000.

Several other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. Accent Capital Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth about $45,000. Mendota Financial Group LLC lifted its position in shares of MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $83,000. Finally, TFO Wealth Partners LLC increased its holdings in shares of MGM Resorts International by 23,030.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,313 shares of the company’s stock valued at $103,000 after purchasing an additional 2,303 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 2.9 %

MGM stock traded up $1.12 during midday trading on Thursday, hitting $39.20. 4,142,119 shares of the company’s stock were exchanged, compared to its average volume of 4,003,196. The stock’s fifty day moving average price is $41.57 and its 200-day moving average price is $42.38. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.46 and a current ratio of 1.47. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a market cap of $12.30 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. Research analysts predict that MGM Resorts International will post 3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent research reports. Macquarie decreased their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Barclays lifted their price objective on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley cut their target price on shares of MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.00.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William Hornbuckle bought 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 216,400 shares of company stock valued at $7,312,197 and sold 147,988 shares valued at $5,991,759. Insiders own 2.13% of the company’s stock.

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.