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

American Capital Advisory LLC cut its position in shares of MGM Resorts International (NYSE:MGM) by 24.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,558 shares of the company’s stock after selling 19,838 shares during the period. MGM Resorts International comprises about 1.0% of American Capital Advisory LLC’s investment 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.

A number of other institutional investors also recently added to or reduced their stakes in MGM. Bayforest Capital Ltd acquired a new stake in MGM Resorts International during the first quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its holdings in MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after purchasing an additional 529 shares in the last quarter. Quarry LP grew its position in MGM Resorts International by 24.1% in the first quarter. Quarry LP now owns 1,795 shares of the company’s stock valued at $53,000 after acquiring an additional 349 shares during the period. Assetmark Inc. raised its stake in MGM Resorts International by 120.3% during the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock worth $62,000 after acquiring an additional 990 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in MGM Resorts International by 27.1% during the second quarter. Hantz Financial Services Inc. now owns 1,986 shares of the company’s stock worth $68,000 after acquiring an additional 423 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on MGM shares. Susquehanna increased their price objective on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group reiterated a “sell” rating and set a $31.00 price objective on shares of MGM Resorts International in a research note on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday, October 8th. Truist Financial dropped their price objective on MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Citigroup dropped their price objective on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating for the company in a research note on Thursday, October 30th. Fourteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.58.

Insider Activity at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 owned 31,521 shares in the company, valued at $1,138,538.52. The trade was a 65.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.06% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $32.06 on Tuesday. The stock’s fifty day moving average is $34.59 and its 200-day moving average is $34.47. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22. The stock has a market capitalization of $8.77 billion, a PE ratio of 200.38, a PEG ratio of 1.40 and a beta of 1.67. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $41.32.

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