American Capital Advisory LLC Sells 19,838 Shares of MGM Resorts International $MGM

American Capital Advisory LLC decreased its position in MGM Resorts International (NYSE:MGM) by 24.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,558 shares of the company’s stock after selling 19,838 shares during the period. MGM Resorts International accounts for 1.0% of American Capital Advisory LLC’s portfolio, making the stock its 20th largest position. American Capital Advisory LLC’s holdings in MGM Resorts International were worth $2,083,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. XML Financial LLC boosted its holdings in MGM Resorts International by 0.9% during the second quarter. XML Financial LLC now owns 30,884 shares of the company’s stock worth $1,062,000 after buying an additional 287 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in MGM Resorts International by 4.1% during the second quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock worth $274,000 after buying an additional 315 shares during the last quarter. Amalgamated Bank boosted its holdings in MGM Resorts International by 0.8% during the first quarter. Amalgamated Bank now owns 43,933 shares of the company’s stock worth $1,302,000 after buying an additional 329 shares during the last quarter. Quarry LP boosted its holdings in MGM Resorts International by 24.1% during the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after buying an additional 349 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in MGM Resorts International by 0.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 55,666 shares of the company’s stock worth $1,917,000 after buying an additional 399 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. This trade represents a 65.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the sale, the director directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MGM has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $45.00 target price on MGM Resorts International in a report on Thursday. Susquehanna upped their price objective on shares of MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, July 29th. Weiss Ratings restated a “sell (d+)” rating on shares of MGM Resorts International in a research report on Wednesday, October 8th. Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research report on Thursday. Finally, Macquarie cut their price objective on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Fourteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.58.

MGM Resorts International Trading Up 0.1%

NYSE:MGM opened at $32.06 on Tuesday. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The stock has a market capitalization of $8.77 billion, a PE ratio of 200.38, a price-to-earnings-growth ratio of 1.40 and a beta of 1.67. The business’s 50-day simple moving average is $34.59 and its 200-day simple moving average is $34.47.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.