Prospera Financial Services Inc Buys Shares of 2,875 MGM Resorts International (NYSE:MGM)

Prospera Financial Services Inc bought a new stake in shares of MGM Resorts International (NYSE:MGMGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,875 shares of the company’s stock, valued at approximately $121,000.

A number of other institutional investors have also added to or reduced their stakes in MGM. Chilton Capital Management LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $25,000. UMB Bank N A MO purchased a new position in MGM Resorts International during the 4th quarter valued at about $29,000. Capital Advisory Group Advisory Services LLC purchased a new position in MGM Resorts International during the 1st quarter valued at about $29,000. GPS Wealth Strategies Group LLC increased its position in MGM Resorts International by 280.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock valued at $32,000 after purchasing an additional 560 shares during the period. Finally, Horan Securities Inc. purchased a new position in MGM Resorts International during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 85.76% of the company’s stock.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $34.71 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. MGM Resorts International has a 12 month low of $26.41 and a 12 month high of $51.17. The company has a 50 day simple moving average of $31.05 and a two-hundred day simple moving average of $37.47. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 4.86 and a beta of 2.14.

MGM Resorts International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 9th will be paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 8th. MGM Resorts International’s payout ratio is 0.14%.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of MGM Resorts International from $48.00 to $51.00 in a report on Thursday. Morgan Stanley lowered their price target on shares of MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Truist Financial raised their price target on shares of MGM Resorts International from $35.00 to $40.00 in a report on Thursday. Finally, UBS Group lowered their price target on shares of MGM Resorts International to $40.00 in a report on Thursday, June 9th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $53.18.

Insider Buying and Selling at MGM Resorts International

In other news, Director Paul J. Salem bought 3,500 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average cost of $31.25 per share, with a total value of $109,375.00. Following the acquisition, the director now directly owns 1,520,500 shares in the company, valued at $47,515,625. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Paul J. Salem bought 3,500 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was purchased at an average cost of $31.25 per share, with a total value of $109,375.00. Following the acquisition, the director now directly owns 1,520,500 shares in the company, valued at $47,515,625. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Salem bought 34,500 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were purchased at an average cost of $28.92 per share, with a total value of $997,740.00. Following the completion of the acquisition, the director now owns 1,555,000 shares in the company, valued at $44,970,600. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Profile

(Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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