Prospera Financial Services Inc invests $121,000 in MGM Resorts International (NYSE: MGM)

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Prospera Financial Services Inc bought a new position in MGM Resorts International (NYSE:MGM – Get Rating) during Q1, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,875 shares of the company, valued at approximately $121,000.

Other hedge funds and other institutional investors have also recently changed their positions in the company. Chilton Capital Management LLC bought a new stock position in MGM Resorts International in the fourth quarter worth about $25,000. UMB Bank NA MO bought a new position in shares of MGM Resorts International in the fourth quarter for a value of approximately $29,000. Capital Advisory Group Advisory Services LLC bought a new stock position in MGM Resorts International in the first quarter for a value of approximately $29,000. GPS Wealth Strategies Group LLC increased its holdings of MGM Resorts International shares by 280.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company valued at $32,000 after purchasing an additional 560 shares in the last quarter. Finally, Horan Securities Inc. bought a new stock position in MGM Resorts International during the fourth quarter valued at around $45,000. Institutional investors hold 85.76% of the company’s shares.

Insider buying and selling

In related news, director Paul J. Salem purchased 34,500 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average price of $28.92 per share, for a total transaction of $997,740.00. Following completion of the transaction, the administrator now owns 1,555,000 shares of the company, valued at $44,970,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news from MGM Resorts International, Director Paul J. Salem acquired 34,500 shares in a transaction on Monday, June 13. The shares were acquired at an average price of $28.92 per share, for a total transaction of $997,740.00. Following completion of the transaction, the administrator now directly owns 1,555,000 shares of the company, valued at $44,970,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, COO Corey Ian Sanders sold 10,000 shares in a trade on Thursday, August 4. The shares were sold at an average price of $36.00, for a total transaction of $360,000.00. As a result of the transaction, the chief operating officer now owns 280,273 shares of the company, valued at approximately $10,089,828. The disclosure of this sale can be found here. 2.13% of the shares are held by insiders of the company.

Performance of MGM Resorts International Shares

NYSE MGM shares opened at $34.71 on Friday. The company has a debt ratio of 1.06, a current ratio of 1.25 and a quick ratio of 1.23. The company has a fifty-day moving average price of $31.05 and a 200-day moving average price of $37.47. MGM Resorts International has a 1-year minimum of $26.41 and a 1-year maximum of $51.17. The stock has a market capitalization of $14.79 billion, a PE ratio of 4.86 and a beta of 2.14.

MGM Resorts International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Friday, September 9 will receive a dividend of $0.0025 per share. The ex-dividend date is Thursday, September 8. This represents a dividend of $0.01 on an annualized basis and a dividend yield of 0.03%. MGM Resorts International’s dividend payout ratio is 0.14%.

Wall Street analysts predict growth

Several research analysts have recently weighed in on the stock. StockNews.com moved shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, July 15. Morgan Stanley cut its price target on MGM Resorts International shares from $56.00 to $51.00 and set an “equal weight” rating for the company in a Monday, April 25 report. UBS Group lowered its price target on shares of MGM Resorts International to $40.00 in a Thursday, June 9 report. Wells Fargo & Company raised its price target on MGM Resorts International shares from $49.00 to $58.00 and gave the company an “overweight” rating in a report released Thursday. Finally, Truist Financial raised its target price on shares of MGM Resorts International from $35.00 to $40.00 in a report Thursday. Seven investment analysts gave the stock a hold rating and eight gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.18.

About MGM Resorts International

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MGM Resorts International, through its subsidiaries, owns and operates casinos, hotels and entertainment centers in the United States and Macau. The Company operates through three segments: Las Vegas Strip Resorts, Regional Operations and MGM China. Its casino complexes offer gaming, hotels, conventions, restaurants, entertainment, retail and other resort amenities.

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Institutional ownership by quarter for MGM Resorts International (NYSE: MGM)



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