Centaurus Financial Inc. Acquires 1,250 Shares of MGM Resorts International (NYSE:MGM)

Centaurus Financial Inc. grew its position in MGM Resorts International (NYSE:MGM) by 50.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,733 shares of the company’s stock after acquiring an additional 1,250 shares during the quarter. Centaurus Financial Inc.’s holdings in MGM Resorts International were worth $146,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Marshall Wace LLP lifted its position in shares of MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the period. Maverick Capital Ltd. acquired a new stake in MGM Resorts International in the 2nd quarter valued at $1,211,000. Empower Advisory Group LLC boosted its stake in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in MGM Resorts International in the 2nd quarter valued at $3,314,000. Finally, Boston Partners boosted its stake in MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MGM. Barclays decreased their price target on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley boosted their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities decreased their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday. Macquarie cut their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.85.

MGM Resorts International Trading Down 0.5 %

MGM stock opened at $37.37 on Thursday. The company has a market cap of $11.13 billion, a P/E ratio of 13.35, a PEG ratio of 2.74 and a beta of 2.23. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $38.68 and a 200-day moving average of $39.67.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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 net margin of 5.23% and a return on equity of 25.84%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. As a group, equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.13% of the stock is currently owned by corporate insiders.

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.