Jefferies Financial Group Inc. Takes $2.18 Million Position in MGM Resorts International $MGM

Jefferies Financial Group Inc. purchased a new position in MGM Resorts International (NYSE:MGM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 63,000 shares of the company’s stock, valued at approximately $2,184,000.

A number of other institutional investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in MGM Resorts International in the second quarter worth approximately $25,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International in the third quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in MGM Resorts International in the third quarter worth approximately $33,000. Employees Retirement System of Texas bought a new stake in MGM Resorts International in the second quarter worth approximately $45,000. Finally, Assetmark Inc. increased its stake in shares of MGM Resorts International by 120.3% during the 2nd quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock worth $62,000 after purchasing an additional 990 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Susquehanna cut their price target on shares of MGM Resorts International from $46.00 to $45.00 and set a “positive” rating on the stock in a report on Friday, February 6th. Morgan Stanley reiterated an “underweight” rating and issued a $34.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 11th. Barclays set a $37.00 target price on shares of MGM Resorts International in a research report on Friday, February 6th. Zacks Research raised MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company upped their price target on MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and an average target price of $41.94.

MGM Resorts International Trading Down 1.8%

MGM Resorts International stock opened at $34.99 on Wednesday. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $40.16. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. The firm has a market capitalization of $8.95 billion, a PE ratio of 46.65 and a beta of 1.38. The business’s 50-day simple moving average is $35.30 and its 200-day simple moving average is $34.92.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter in the prior year, the company earned $0.45 EPS. Equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Profile

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.