Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires 2,972 Shares of MGM Resorts International (NYSE:MGM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MGM Resorts International (NYSE:MGM) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,416 shares of the company’s stock after buying an additional 2,972 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in MGM Resorts International were worth $759,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Boston Partners boosted its position in shares of MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares in the last quarter. Bamco Inc. NY increased its position in MGM Resorts International by 3.6% during the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after acquiring an additional 73,515 shares during the last quarter. Marshall Wace LLP grew its holdings in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares during the period. Key Colony Management LLC grew its holdings in MGM Resorts International by 11.1% during the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after purchasing an additional 88,000 shares during the period. Finally, Goldentree Asset Management LP bought a new position in shares of MGM Resorts International in the first quarter worth about $35,726,000. 68.11% of the stock is currently owned by institutional investors.

Insider Transactions at MGM Resorts International

In related news, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the acquisition, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 216,400 shares of company stock worth $7,312,197 in the last 90 days. 2.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research began coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective on the stock. Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities dropped their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a research report on Monday, October 14th. Truist Financial dropped their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.08.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $41.73 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The firm has a 50-day simple moving average of $38.41 and a 200 day simple moving average of $40.23. The company has a market cap of $12.67 billion, a PE ratio of 15.75, a P/E/G ratio of 0.97 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts anticipate that MGM Resorts International will post 2.54 EPS for the current year.

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.