Atomi Financial Group Inc. Has $481,000 Stock Position in MGM Resorts International (NYSE:MGM)

Atomi Financial Group Inc. reduced its stake in MGM Resorts International (NYSE:MGM) by 10.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,317 shares of the company’s stock after selling 1,388 shares during the quarter. Atomi Financial Group Inc.’s holdings in MGM Resorts International were worth $481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MGM. V Square Quantitative Management LLC lifted its holdings in MGM Resorts International by 228.5% during the 4th quarter. V Square Quantitative Management LLC now owns 15,100 shares of the company’s stock worth $675,000 after purchasing an additional 10,504 shares during the last quarter. Virtu Financial LLC increased its position in MGM Resorts International by 42.0% during the 4th quarter. Virtu Financial LLC now owns 21,687 shares of the company’s stock worth $969,000 after buying an additional 6,413 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $111,000. Lazari Capital Management Inc. bought a new stake in shares of MGM Resorts International in the fourth quarter valued at about $237,000. Finally, Vima LLC acquired a new position in shares of MGM Resorts International in the fourth quarter valued at about $273,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MGM has been the subject of several analyst reports. BTIG Research began coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price objective for the company. Morgan Stanley lowered their target price on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Susquehanna boosted their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. JMP Securities reduced their price target on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Macquarie dropped their price objective 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $39.59 on Friday. The stock has a market cap of $12.42 billion, a PE ratio of 15.23, a P/E/G ratio of 0.68 and a beta of 2.23. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The business’s 50-day moving average price is $37.69 and its two-hundred day moving average price is $40.81. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the business posted $0.59 EPS. MGM Resorts International’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that MGM Resorts International will post 2.63 earnings per share for the current fiscal year.

MGM Resorts International 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.