MCF Advisors LLC Has $717,000 Holdings in MGM Resorts International (NYSE:MGM)

MCF Advisors LLC boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,331 shares of the company’s stock after buying an additional 587 shares during the quarter. MCF Advisors LLC’s holdings in MGM Resorts International were worth $717,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Boston Partners increased its holdings in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Bamco Inc. NY grew its holdings in MGM Resorts International by 3.6% during 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 holdings in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Key Colony Management LLC raised its position in shares of MGM Resorts International by 11.1% in the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after purchasing an additional 88,000 shares during the period. Finally, Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International in the first quarter worth $35,726,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

MGM stock traded up $0.26 during midday trading on Friday, hitting $40.36. The stock had a trading volume of 2,345,293 shares, compared to its average volume of 4,048,621. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. 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 stock has a 50-day simple moving average of $38.38 and a 200 day simple moving average of $40.33. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, equities research analysts anticipate that MGM Resorts International will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. BTIG Research began coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target on the stock. Macquarie cut their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley increased their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.08.

Insider Buying and Selling at MGM Resorts International

In related news, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the acquisition, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Paul J. Salem purchased 147,500 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 121,000 shares of the stock in a transaction 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 transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 216,400 shares of company stock valued at $7,312,197. 2.13% 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.