Victory Capital Management Inc. Has $4.47 Million Stake in MGM Resorts International (NYSE:MGM)

Victory Capital Management Inc. grew its stake in MGM Resorts International (NYSE:MGM) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 114,385 shares of the company’s stock after buying an additional 4,745 shares during the quarter. Victory Capital Management Inc.’s holdings in MGM Resorts International were worth $4,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after purchasing an additional 293 shares in the last quarter. Quent Capital LLC grew its holdings in shares of MGM Resorts International by 14.6% during the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock worth $93,000 after purchasing an additional 304 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Trading Down 0.6 %

NYSE:MGM opened at $37.80 on Friday. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $11.25 billion, a P/E ratio of 13.50, a PEG ratio of 2.66 and a beta of 2.23. The company’s 50-day simple moving average is $38.61 and its 200 day simple moving average is $39.74.

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

Wall Street Analysts Forecast Growth

MGM has been the topic of several analyst reports. Mizuho reduced their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Susquehanna lifted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. JMP Securities reduced their target price on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.15.

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.