Sippican Capital Advisors Sells 17,362 Shares of MGM Resorts International $MGM

Sippican Capital Advisors trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 39.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,276 shares of the company’s stock after selling 17,362 shares during the quarter. Sippican Capital Advisors’ holdings in MGM Resorts International were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its stake in MGM Resorts International by 74.6% during the first quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company’s stock worth $646,000 after buying an additional 9,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in MGM Resorts International by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company’s stock worth $1,830,000 after buying an additional 23,234 shares during the last quarter. Achmea Investment Management B.V. grew its stake in MGM Resorts International by 46.3% during the first quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company’s stock worth $1,045,000 after buying an additional 11,152 shares during the last quarter. Key Colony Management LLC grew its stake in MGM Resorts International by 9.8% during the second quarter. Key Colony Management LLC now owns 615,000 shares of the company’s stock worth $21,150,000 after buying an additional 55,000 shares during the last quarter. Finally, Osborne Partners Capital Management LLC grew its stake in MGM Resorts International by 4.1% during the first quarter. Osborne Partners Capital Management LLC now owns 326,197 shares of the company’s stock worth $9,668,000 after buying an additional 12,833 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MGM Resorts International from $54.00 to $53.00 in a research note on Monday, September 22nd. Susquehanna increased their price target on shares of MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday. Seaport Res Ptn cut shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Finally, Macquarie decreased their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.50.

MGM Resorts International Trading Down 3.6%

MGM opened at $31.29 on Friday. The firm’s fifty day moving average is $35.80 and its two-hundred day moving average is $34.03. 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 firm has a market cap of $8.52 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.33 and a beta of 1.67. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $42.53.

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

Insider Buying and Selling at MGM Resorts International

In other news, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction dated 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 of the company’s stock, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the transaction, the director directly owned 5,385,478 shares of the company’s stock, valued at approximately $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 insiders.

About MGM Resorts International

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.