D.A. Davidson & CO. Has $10 Million Stock Position in MGM Resorts International $MGM

D.A. Davidson & CO. lowered its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 290,907 shares of the company’s stock after selling 12,563 shares during the period. D.A. Davidson & CO. owned about 0.11% of MGM Resorts International worth $10,004,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. XML Financial LLC raised its holdings in shares of MGM Resorts International by 0.9% during the 2nd quarter. XML Financial LLC now owns 30,884 shares of the company’s stock worth $1,062,000 after buying an additional 287 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in MGM Resorts International by 4.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock worth $274,000 after acquiring an additional 315 shares during the last quarter. Amalgamated Bank grew its position in MGM Resorts International by 0.8% during the 1st quarter. Amalgamated Bank now owns 43,933 shares of the company’s stock worth $1,302,000 after acquiring an additional 329 shares during the last quarter. Quarry LP grew its position in MGM Resorts International by 24.1% during the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after acquiring an additional 349 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in MGM Resorts International by 0.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock worth $1,917,000 after acquiring an additional 399 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MGM shares. Barclays boosted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Truist Financial reduced their price objective on MGM Resorts International from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on MGM Resorts International from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. JMP Securities reiterated a “market perform” rating on shares of MGM Resorts International in a research report on Thursday, June 26th. Finally, Stifel Nicolaus decreased their price target on MGM Resorts International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

MGM Resorts International Stock Down 0.7%

Shares of MGM Resorts International stock opened at $32.68 on Thursday. MGM Resorts International has a one year low of $25.30 and a one year high of $42.53. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The stock’s 50-day moving average is $35.33 and its 200 day moving average is $34.14. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.43 and a beta of 1.67.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the transaction, the director owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. The trade was a 4.30% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by corporate insiders.

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.