Steward Partners Investment Advisory LLC Boosts Stock Holdings in MGM Resorts International (NYSE:MGM)

Steward Partners Investment Advisory LLC increased its position in shares of MGM Resorts International (NYSE:MGMGet Rating) by 21.6% in the 1st quarter, HoldingsChannel reports. The firm owned 12,286 shares of the company’s stock after purchasing an additional 2,182 shares during the period. Steward Partners Investment Advisory LLC’s holdings in MGM Resorts International were worth $515,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co boosted its holdings in shares of MGM Resorts International by 1.7% during the 4th quarter. Heartland Bank & Trust Co now owns 14,714 shares of the company’s stock worth $660,000 after buying an additional 252 shares during the period. Lincoln National Corp raised its stake in MGM Resorts International by 3.0% during the 4th quarter. Lincoln National Corp now owns 8,677 shares of the company’s stock valued at $389,000 after purchasing an additional 254 shares during the last quarter. Kentucky Retirement Systems raised its stake in MGM Resorts International by 1.1% during the 4th quarter. Kentucky Retirement Systems now owns 24,157 shares of the company’s stock valued at $1,084,000 after purchasing an additional 259 shares during the last quarter. Whittier Trust Co. raised its stake in MGM Resorts International by 2.9% during the 1st quarter. Whittier Trust Co. now owns 10,218 shares of the company’s stock valued at $428,000 after purchasing an additional 288 shares during the last quarter. Finally, Commerce Bank raised its stake in MGM Resorts International by 2.7% during the 4th quarter. Commerce Bank now owns 12,282 shares of the company’s stock valued at $551,000 after purchasing an additional 326 shares during the last quarter. 85.76% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 4.9 %

Shares of NYSE:MGM opened at $31.41 on Thursday. MGM Resorts International has a 12 month low of $26.41 and a 12 month high of $51.17. The company’s 50-day moving average price is $31.02 and its two-hundred day moving average price is $37.99. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market cap of $13.38 billion, a P/E ratio of 10.20 and a beta of 2.17.

MGM Resorts International (NYSE:MGMGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the prior year, the firm earned ($0.68) EPS. As a group, research analysts forecast that MGM Resorts International will post 0.94 EPS for the current fiscal year.

MGM Resorts International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 10th were paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, June 9th. MGM Resorts International’s dividend payout ratio (DPR) is presently 0.32%.

Wall Street Analysts Forecast Growth

MGM has been the subject of several research analyst reports. Truist Financial cut their target price on shares of MGM Resorts International from $48.00 to $35.00 and set a “hold” rating for the company in a research note on Wednesday, July 20th. Bank of America dropped their price objective on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 18th. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $57.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Citigroup dropped their price objective on shares of MGM Resorts International from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Finally, StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and a consensus target price of $51.82.

Insider Activity

In other MGM Resorts International news, Director Paul J. Salem bought 34,500 shares of MGM Resorts International stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $28.92 per share, with a total value of $997,740.00. Following the purchase, the director now owns 1,555,000 shares of the company’s stock, valued at $44,970,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Paul J. Salem acquired 34,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, June 13th. The shares were acquired at an average price of $28.92 per share, with a total value of $997,740.00. Following the purchase, the director now directly owns 1,555,000 shares of the company’s stock, valued at $44,970,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Salem acquired 3,500 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, May 25th. The shares were purchased at an average cost of $31.25 per share, for a total transaction of $109,375.00. Following the purchase, the director now directly owns 1,520,500 shares in the company, valued at $47,515,625. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Company Profile

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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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