B. Riley Wealth Advisors Inc. Acquires 810 Shares of MGM Resorts International (NYSE:MGM)

B. Riley Wealth Advisors Inc. lifted its holdings in MGM Resorts International (NYSE:MGMFree Report) by 15.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,955 shares of the company’s stock after acquiring an additional 810 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in MGM Resorts International were worth $219,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in MGM Resorts International during the 3rd quarter valued at $149,000. Public Sector Pension Investment Board raised its holdings in MGM Resorts International by 4.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 30,069 shares of the company’s stock valued at $1,105,000 after buying an additional 1,155 shares during the last quarter. Invst LLC raised its holdings in MGM Resorts International by 3.4% during the 3rd quarter. Invst LLC now owns 18,211 shares of the company’s stock valued at $669,000 after buying an additional 602 shares during the last quarter. Comerica Bank increased its position in MGM Resorts International by 130,138.6% during the 3rd quarter. Comerica Bank now owns 148,472 shares of the company’s stock valued at $5,458,000 after purchasing an additional 148,358 shares during the period. Finally, Savoie Capital LLC purchased a new position in MGM Resorts International during the 3rd quarter valued at $460,000. 66.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

NYSE MGM opened at $44.47 on Monday. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.47 and a beta of 2.18. The company’s 50 day moving average is $43.37 and its two-hundred day moving average is $41.13. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period last year, the firm posted $0.69 EPS. The company’s revenue was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that MGM Resorts International will post 2.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MGM. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. JPMorgan Chase & Co. upped their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 28th. Truist Financial reissued a “buy” rating and set a $55.00 price objective on shares of MGM Resorts International in a research report on Tuesday, December 5th. Finally, Bank Of America (Bofa) increased their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.90.

View Our Latest Report on MGM Resorts International

About MGM Resorts International

(Free Report)

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.

Further Reading

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

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