Sequoia Financial Advisors LLC Boosts Stake in MGM Resorts International (NYSE:MGM)

Sequoia Financial Advisors LLC increased its stake in shares of MGM Resorts International (NYSE:MGM) by 749.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,424 shares of the company’s stock after buying an additional 44,489 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MGM Resorts International were worth $1,971,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Boston Partners increased its holdings in MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after buying an additional 684,676 shares during the period. Bamco Inc. NY boosted its holdings in MGM Resorts International by 3.6% in the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after purchasing an additional 73,515 shares during the last quarter. Marshall Wace LLP grew its position in MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after purchasing an additional 706,159 shares during the period. Key Colony Management LLC raised its stake in shares of MGM Resorts International by 11.1% during the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after buying an additional 88,000 shares during the last quarter. Finally, Goldentree Asset Management LP acquired a new position in shares of MGM Resorts International in the 1st quarter valued at about $35,726,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 1.2 %

Shares of MGM Resorts International stock opened at $40.10 on Friday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The firm’s 50-day moving average price is $38.35 and its 200 day moving average price is $40.37. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $12.58 billion, a PE ratio of 15.42, a P/E/G ratio of 0.92 and a beta of 2.23.

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, topping analysts’ consensus estimates 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 firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that MGM Resorts International will post 2.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Truist Financial dropped their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays dropped their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. BTIG Research initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price target on the stock. Finally, Macquarie cut their price objective on shares of 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.08.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $34.00 per share, with a total value of $340,000.00. Following the completion of the purchase, the chief financial officer now directly owns 38,299 shares in the company, valued at approximately $1,302,166. The trade was 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 acquired 216,400 shares of company stock valued at $7,312,197. Corporate insiders own 2.13% of the company’s stock.

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.