MGM Resorts International (NYSE:MGM) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC grew its position in MGM Resorts International (NYSE:MGM) by 38.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 8,383 shares of the company’s stock after acquiring an additional 2,325 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in MGM Resorts International were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Accent Capital Management LLC purchased a new stake in MGM Resorts International during the 4th quarter worth about $45,000. Mendota Financial Group LLC increased its position in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares in the last quarter. Sandy Spring Bank increased its position in MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in MGM Resorts International during the 4th quarter worth about $83,000. Finally, TFO Wealth Partners LLC increased its position in MGM Resorts International by 23,030.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,313 shares of the company’s stock worth $103,000 after purchasing an additional 2,303 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Up 2.2 %

Shares of NYSE MGM traded up $0.94 during midday trading on Monday, hitting $42.78. The stock had a trading volume of 3,378,445 shares, compared to its average volume of 3,711,560. The company has a fifty day moving average price of $42.02 and a 200 day moving average price of $42.83. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.87 and a beta of 2.24. 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 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. MGM Resorts International’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, analysts predict that MGM Resorts International will post 3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the sale, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,988 shares of company stock valued at $5,991,759. Corporate insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. JMP Securities raised their price target on MGM Resorts International from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 17th. Mizuho raised their price target on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley decreased their price target on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.66.

MGM Resorts International 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.