First Foundation Advisors Sells 342 Shares of MGM Resorts International (NYSE:MGM)

First Foundation Advisors decreased its stake in MGM Resorts International (NYSE:MGM) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,684 shares of the company’s stock after selling 342 shares during the period. First Foundation Advisors’ holdings in MGM Resorts International were worth $410,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth $45,000. Mendota Financial Group LLC increased its holdings in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after buying an additional 288 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of MGM Resorts International during the 4th quarter valued at $83,000. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MGM. BTIG Research began coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price on the stock. Mizuho increased their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and increased their target price for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Finally, JMP Securities increased their target price on shares of MGM Resorts International from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $54.66.

MGM Resorts International Trading Up 0.2 %

Shares of NYSE:MGM traded up $0.07 on Friday, hitting $45.37. The company had a trading volume of 2,144,825 shares, compared to its average volume of 3,296,974. The firm’s 50-day simple moving average is $41.89 and its two-hundred day simple moving average is $42.90. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $14.23 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 0.94 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the company posted $0.44 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities analysts anticipate that MGM Resorts International will post 3 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the sale, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,988 shares of company stock valued at $5,991,759. Company insiders own 2.13% of the company’s stock.

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.