MGM Resorts International (NYSE:MGM) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc cut its stake in MGM Resorts International (NYSE:MGM) by 65.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,498 shares of the company’s stock after selling 10,454 shares during the period. Prospera Financial Services Inc’s holdings in MGM Resorts International were worth $215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGM. Advisors Asset Management Inc. raised its holdings in shares of MGM Resorts International by 106.8% in the 1st quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock valued at $403,000 after purchasing an additional 4,412 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MGM Resorts International by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock worth $26,602,000 after buying an additional 5,968 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its position in shares of MGM Resorts International by 38.4% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company’s stock worth $396,000 after acquiring an additional 2,325 shares in the last quarter. Dynasty Wealth Management LLC purchased a new position in shares of MGM Resorts International in the 1st quarter valued at about $638,000. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of MGM Resorts International by 12.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company’s stock worth $281,000 after acquiring an additional 670 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Up 1.4 %

MGM stock opened at $38.32 on Tuesday. The stock has a market capitalization of $11.41 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23. The company has a fifty day moving average of $38.64 and a 200-day moving average of $39.71. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Barclays decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.83% of the company’s stock.

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.