MGM Resorts International (NYSE:MGM) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers increased its stake in MGM Resorts International (NYSE:MGM - Free Report) by 34.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,956 shares of the company's stock after acquiring an additional 28,268 shares during the period. Cetera Investment Advisers' holdings in MGM Resorts International were worth $3,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International in the fourth quarter worth about $28,000. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Quarry LP boosted its position in shares of MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock worth $50,000 after purchasing an additional 1,276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in MGM Resorts International by 74.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after acquiring an additional 633 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded down $0.43 during trading on Friday, reaching $33.96. 4,680,480 shares of the company traded hands, compared to its average volume of 4,754,259. The firm's fifty day simple moving average is $30.87 and its 200 day simple moving average is $33.77. The stock has a market cap of $9.24 billion, a P/E ratio of 14.15, a PEG ratio of 0.98 and a beta of 1.78. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The company's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.74 EPS. As a group, research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 22.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Corey Ian Sanders sold 40,000 shares of MGM Resorts International stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the transaction, the chief operating officer now owns 281,530 shares of the company's stock, valued at $9,693,077.90. The trade was a 12.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,261 shares of company stock worth $1,788,007. Insiders own 3.06% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MGM. Stifel Nicolaus decreased their target price on shares of MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Barclays increased their price objective on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Truist Financial lowered their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Capital One Financial lifted their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.94.

About MGM Resorts International

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.