Centaurus Financial Inc. Has $146,000 Stake in MGM Resorts International (NYSE:MGM)

Centaurus Financial Inc. raised its holdings in MGM Resorts International (NYSE:MGM) by 50.3% in the third quarter, Holdings Channel reports. The fund owned 3,733 shares of the company’s stock after acquiring an additional 1,250 shares during the period. Centaurus Financial Inc.’s holdings in MGM Resorts International were worth $146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Boston Partners grew its stake in MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares during the period. Empower Advisory Group LLC grew its stake in MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the period. Marshall Wace LLP grew its stake in MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. Key Colony Management LLC grew its stake in MGM Resorts International by 11.1% in the third quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after acquiring an additional 88,000 shares during the period. Finally, Goldentree Asset Management LP acquired a new position in MGM Resorts International in the first quarter valued at about $35,726,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MGM. Wells Fargo & Company reduced their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Susquehanna upped their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Truist Financial reduced their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $52.85.

MGM Resorts International Price Performance

NYSE:MGM opened at $37.37 on Thursday. 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 stock’s 50 day moving average price is $38.68 and its two-hundred day moving average price is $39.67. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.74 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business 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%. MGM Resorts International’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.13% of the company’s stock.

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.