Brooklyn Investment Group Purchases New Position in MGM Resorts International (NYSE:MGM)

Brooklyn Investment Group purchased a new stake in MGM Resorts International (NYSE:MGM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 1,117 shares of the company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MGM. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at about $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in 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 buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Truist Financial cut their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wells Fargo & Company cut 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. Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley boosted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.85.

MGM Resorts International Trading Up 2.6 %

MGM opened at $38.33 on Friday. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The stock has a market capitalization of $11.41 billion, a PE ratio of 13.69, a P/E/G ratio of 2.67 and a beta of 2.23. The business’s 50 day moving average price is $38.68 and its 200 day moving average price is $39.63. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last released 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 business 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 company’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is currently 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.