First Trust Direct Indexing L.P. Has $531,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

First Trust Direct Indexing L.P. increased its stake in shares of MGM Resorts International (NYSE:MGM) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,874 shares of the company’s stock after acquiring an additional 514 shares during the period. First Trust Direct Indexing L.P.’s holdings in MGM Resorts International were worth $531,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Raymond James & Associates grew its stake in shares of MGM Resorts International by 60.8% in the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock valued at $11,856,000 after buying an additional 121,947 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of MGM Resorts International by 42.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,461 shares of the company’s stock valued at $1,009,000 after purchasing an additional 8,244 shares during the period. Independent Advisor Alliance lifted its stake in MGM Resorts International by 9.4% in the 3rd quarter. Independent Advisor Alliance now owns 15,653 shares of the company’s stock valued at $575,000 after purchasing an additional 1,349 shares during the last quarter. Brown Advisory Inc. grew its holdings in MGM Resorts International by 1.3% during the third quarter. Brown Advisory Inc. now owns 23,233 shares of the company’s stock worth $854,000 after purchasing an additional 309 shares during the period. Finally, Lindbrook Capital LLC increased its position in MGM Resorts International by 24.1% during the third quarter. Lindbrook Capital LLC now owns 2,907 shares of the company’s stock worth $107,000 after buying an additional 565 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Up 0.4 %

MGM stock opened at $41.04 on Monday. The company has a market cap of $12.87 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The business has a 50-day simple moving average of $43.52 and a 200 day simple moving average of $42.32.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 EPS. Sell-side analysts anticipate that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $46.00 to $54.00 in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.77.

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.