Merit Financial Group LLC Acquires 16,598 Shares of MGM Resorts International $MGM

Merit Financial Group LLC raised its holdings in shares of MGM Resorts International (NYSE:MGM) by 108.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,875 shares of the company’s stock after purchasing an additional 16,598 shares during the quarter. Merit Financial Group LLC’s holdings in MGM Resorts International were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MGM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MGM Resorts International by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after acquiring an additional 951 shares during the last quarter. NewEdge Advisors LLC raised its position in MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after purchasing an additional 421 shares during the period. Woodline Partners LP raised its position in MGM Resorts International by 39.1% during the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after purchasing an additional 5,312 shares during the period. MGO One Seven LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at approximately $224,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of MGM Resorts International in the 2nd quarter worth approximately $249,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Trading Up 0.4%

Shares of MGM opened at $34.29 on Wednesday. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $40.16. The company has a 50-day moving average of $35.61 and a 200 day moving average of $34.89. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 45.72 and a beta of 1.44. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same period last year, the company posted $0.45 earnings per share. On average, research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MGM. Citigroup increased their price target on MGM Resorts International from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Argus reduced their target price on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. The Goldman Sachs Group restated a “sell” rating and issued a $33.00 target price on shares of MGM Resorts International in a report on Monday, December 15th. Morgan Stanley reiterated an “underweight” rating and set a $34.00 price target on shares of MGM Resorts International in a report on Wednesday, February 11th. Finally, Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.94.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. purchased 1,098,748 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.06% of the stock is currently owned by company insiders.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.