Sebold Capital Management Inc. Decreases Stake in MGM Resorts International $MGM

Sebold Capital Management Inc. reduced its stake in MGM Resorts International (NYSE:MGM) by 35.5% during the second quarter, Holdings Channel.com reports. The firm owned 8,409 shares of the company’s stock after selling 4,632 shares during the period. Sebold Capital Management Inc.’s holdings in MGM Resorts International were worth $289,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MGM. Mirae Asset Global Investments Co. Ltd. increased its stake in MGM Resorts International by 18.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,280 shares of the company’s stock worth $889,000 after purchasing an additional 4,655 shares during the period. Amalgamated Bank increased its stake in MGM Resorts International by 0.8% in the 1st quarter. Amalgamated Bank now owns 43,933 shares of the company’s stock worth $1,302,000 after purchasing an additional 329 shares during the period. Vontobel Holding Ltd. increased its stake in MGM Resorts International by 74.6% in the 1st quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company’s stock worth $646,000 after purchasing an additional 9,304 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of MGM Resorts International by 3.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,312 shares of the company’s stock valued at $839,000 after buying an additional 907 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of MGM Resorts International during the first quarter valued at approximately $969,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Price Performance

Shares of MGM stock opened at $32.03 on Friday. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 200.16, a PEG ratio of 1.40 and a beta of 1.67. The business’s fifty day moving average is $34.71 and its 200 day moving average is $34.40. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Research analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MGM. JPMorgan Chase & Co. reduced their price target on shares of MGM Resorts International from $41.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup reduced their price target on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating on the stock in a research note on Thursday. Seaport Res Ptn cut MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Stifel Nicolaus set a $45.00 price target on MGM Resorts International in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday, October 8th. Fourteen 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.58.

Insider Activity

In other news, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction dated 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 owned 31,521 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International 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 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 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 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.