180 Wealth Advisors LLC Invests $545,000 in MGM Resorts International (NYSE:MGM)

180 Wealth Advisors LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,448 shares of the company’s stock, valued at approximately $545,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MGM. Aspire Private Capital LLC purchased a new position in MGM Resorts International during the 1st quarter worth approximately $12,314,468,000. James Investment Research Inc. purchased a new position in MGM Resorts International during the 1st quarter worth approximately $29,000. VitalStone Financial LLC grew its stake in MGM Resorts International by 108.9% during the 1st quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after buying an additional 380 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in MGM Resorts International during the 1st quarter worth approximately $34,000. Finally, Register Financial Advisors LLC grew its stake in MGM Resorts International by 136.2% during the 1st quarter. Register Financial Advisors LLC now owns 789 shares of the company’s stock worth $35,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MGM shares. Citigroup raised their price target on MGM Resorts International from $63.00 to $66.50 in a research note on Friday, August 4th. TheStreet downgraded MGM Resorts International from a “b” rating to a “c+” rating in a research note on Wednesday, August 2nd. JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of MGM Resorts International in a research note on Tuesday, July 18th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Truist Financial lifted their target price on MGM Resorts International from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.86.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $40.29 on Tuesday. The stock has a fifty day moving average price of $45.53 and a 200 day moving average price of $43.73. The stock has a market cap of $14.14 billion, a PE ratio of 39.12 and a beta of 2.10. MGM Resorts International has a 1 year low of $29.20 and a 1 year high of $51.35. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.04.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.06. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.82 billion. MGM Resorts International had a return on equity of 2.10% and a net margin of 2.53%. MGM Resorts International’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. Sell-side analysts forecast that MGM Resorts International will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, insider John Mcmanus sold 10,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $46.59, for a total value of $465,900.00. Following the completion of the transaction, the insider now directly owns 32,283 shares of the company’s stock, valued at $1,504,064.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John Mcmanus sold 10,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $46.59, for a total value of $465,900.00. Following the completion of the transaction, the insider now directly owns 32,283 shares of the company’s stock, valued at $1,504,064.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Corey Ian Sanders sold 25,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. Following the completion of the transaction, the chief operating officer now directly owns 136,632 shares of the company’s stock, valued at $6,177,132.72. The disclosure for this sale can be found here. Insiders sold a total of 49,454 shares of company stock valued at $2,249,894 over the last three months. 2.39% of the stock is currently owned by insiders.

MGM Resorts International Profile

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.