PFG Advisors Grows Stock Holdings in MGM Resorts International (NYSE:MGM)

PFG Advisors grew its stake in shares of MGM Resorts International (NYSE:MGM) by 36.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,609 shares of the company’s stock after buying an additional 2,570 shares during the period. PFG Advisors’ holdings in MGM Resorts International were worth $333,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in MGM. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after buying an additional 309 shares during the last quarter. Ballentine Partners LLC grew its position in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 5.4 %

MGM stock opened at $31.78 on Friday. MGM Resorts International has a 12 month low of $29.99 and a 12 month high of $48.24. The firm has a market cap of $9.07 billion, a PE ratio of 13.24, a P/E/G ratio of 0.98 and a beta of 2.18. The firm has a 50 day simple moving average of $34.09 and a 200 day simple moving average of $36.25. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent research reports. Truist Financial lowered their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Mizuho upped their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is 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.