MGM Resorts International (NYSE:MGM) Shares Sold by American Financial Advisors LLC

American Financial Advisors LLC decreased its stake in shares of MGM Resorts International (NYSE:MGM) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,140 shares of the company’s stock after selling 350 shares during the quarter. American Financial Advisors LLC’s holdings in MGM Resorts International were worth $498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. RB Capital Management LLC grew its stake in MGM Resorts International by 29.1% during the first quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock worth $327,000 after buying an additional 1,756 shares during the period. American Century Companies Inc. grew its stake in MGM Resorts International by 10.7% during the first quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock worth $1,024,000 after buying an additional 2,368 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in MGM Resorts International by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock worth $2,114,000 after buying an additional 1,542 shares during the period. Synovus Financial Corp grew its stake in MGM Resorts International by 107.5% during the first quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock worth $529,000 after buying an additional 6,526 shares during the period. Finally, Cibc World Market Inc. grew its stake in MGM Resorts International by 81.6% during the first quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock worth $461,000 after buying an additional 4,934 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Barclays dropped their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.34.

MGM Resorts International Trading Up 0.9 %

Shares of MGM traded up $0.38 during midday trading on Friday, hitting $42.42. The stock had a trading volume of 2,657,753 shares, compared to its average volume of 3,859,832. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The business has a 50-day simple moving average of $43.99 and a two-hundred day simple moving average of $41.86. The firm has a market cap of $13.45 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.73 and a beta of 2.19. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the company posted $0.69 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that MGM Resorts International will post 2.46 EPS for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is owned by insiders.

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.