Arlington Trust Co LLC Sells 2,489 Shares of MGM Resorts International $MGM

Arlington Trust Co LLC lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 75.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the company’s stock after selling 2,489 shares during the quarter. Arlington Trust Co LLC’s holdings in MGM Resorts International were worth $28,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in MGM Resorts International in the fourth quarter worth approximately $28,000. Golden State Wealth Management LLC lifted its holdings in shares of MGM Resorts International by 83.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 455 shares in the last quarter. CX Institutional acquired a new stake in MGM Resorts International in the 1st quarter valued at $36,000. Bayforest Capital Ltd bought a new stake in MGM Resorts International during the 1st quarter valued at $43,000. Finally, UMB Bank n.a. raised its holdings in MGM Resorts International by 91.0% during the first quarter. UMB Bank n.a. now owns 1,616 shares of the company’s stock worth $48,000 after buying an additional 770 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In other news, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction 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 completion of the transaction, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 242,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of analyst reports. Seaport Res Ptn cut shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. Citizens Jmp lowered MGM Resorts International from an “outperform” rating to a “market perform” rating in a report on Thursday, June 26th. Citigroup raised MGM Resorts International from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $55.00 to $57.00 in a research note on Wednesday, July 9th. The Goldman Sachs Group assumed coverage on MGM Resorts International in a research report on Monday, July 7th. They set a “sell” rating and a $34.00 target price on the stock. Finally, Susquehanna increased their price target on MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.67.

MGM Resorts International Trading Up 3.1%

Shares of MGM opened at $35.63 on Tuesday. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53. The business has a 50-day moving average of $37.04 and a 200 day moving average of $33.72. The firm has a market cap of $9.70 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $0.86 earnings per share. As a group, research analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

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.