MGM Resorts International (NYSE:MGM) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp grew its stake in shares of MGM Resorts International (NYSE:MGM) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,829 shares of the company’s stock after acquiring an additional 20,542 shares during the quarter. Stifel Financial Corp’s holdings in MGM Resorts International were worth $6,639,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the second quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the third quarter valued at approximately $28,000. Eastern Bank purchased a new stake in MGM Resorts International in the third quarter valued at approximately $35,000. UMB Bank n.a. boosted its position in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in MGM Resorts International in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Trading Down 1.5 %

Shares of NYSE:MGM opened at $36.25 on Friday. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The business’s 50 day moving average price is $38.37 and its 200-day moving average price is $39.36.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (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 for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the business earned $0.64 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MGM. Mizuho dropped their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research 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 on the stock in a research report on Thursday, October 17th. Barclays lowered their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $52.54.

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.