Savant Capital LLC Has $1.08 Million Holdings in MGM Resorts International $MGM

Savant Capital LLC lessened its position in MGM Resorts International (NYSE:MGM) by 42.6% in the 2nd quarter, Holdings Channel reports. The fund owned 31,446 shares of the company’s stock after selling 23,338 shares during the period. Savant Capital LLC’s holdings in MGM Resorts International were worth $1,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. lifted its holdings in shares of MGM Resorts International by 47.8% in the second quarter. Levin Capital Strategies L.P. now owns 136,816 shares of the company’s stock valued at $4,705,000 after purchasing an additional 44,263 shares in the last quarter. American Assets Inc. grew its holdings in shares of MGM Resorts International by 66.7% during the second quarter. American Assets Inc. now owns 30,000 shares of the company’s stock valued at $950,000 after buying an additional 12,000 shares in the last quarter. South Dakota Investment Council acquired a new position in MGM Resorts International during the second quarter valued at $757,000. Savoir Faire Capital Management L.P. lifted its stake in MGM Resorts International by 35.0% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 48,708 shares of the company’s stock worth $1,675,000 after acquiring an additional 12,621 shares in the last quarter. Finally, Atria Investments Inc boosted its position in MGM Resorts International by 42.6% during the 2nd quarter. Atria Investments Inc now owns 45,739 shares of the company’s stock worth $1,573,000 after acquiring an additional 13,660 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John Mcmanus sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the transaction, the insider owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup dropped their target price on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating on the stock in a report on Thursday, October 30th. Susquehanna upped their price objective 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. Macquarie cut their target price on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Stifel Nicolaus set a $45.00 target price on shares of MGM Resorts International in a research note on Thursday, October 30th. Finally, Seaport Res Ptn downgraded shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Fourteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.58.

MGM Resorts International Stock Performance

MGM stock opened at $32.86 on Friday. The firm has a 50 day moving average of $33.56 and a two-hundred day moving average of $34.53. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $41.32. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 205.34, a P/E/G ratio of 1.40 and a beta of 1.66. 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 quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. 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 prior year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate 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.