American Capital Advisory LLC Sells 39,600 Shares of MGM Resorts International (NYSE:MGM)

American Capital Advisory LLC reduced its position in shares of MGM Resorts International (NYSE:MGM) by 39.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,726 shares of the company’s stock after selling 39,600 shares during the period. MGM Resorts International comprises 1.4% of American Capital Advisory LLC’s investment portfolio, making the stock its 14th largest holding. American Capital Advisory LLC’s holdings in MGM Resorts International were worth $2,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the 2nd quarter valued at approximately $28,000. Eastern Bank acquired a new stake in MGM Resorts International during the 3rd quarter worth about $35,000. EverSource Wealth Advisors LLC lifted its stake in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. boosted its position in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Truist Financial decreased their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. JMP Securities cut their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays decreased their target price on MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $53.15.

MGM Resorts International Stock Performance

MGM stock traded up $1.74 during mid-day trading on Wednesday, hitting $37.97. The company had a trading volume of 1,068,336 shares, compared to its average volume of 4,100,344. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock’s fifty day moving average price is $38.34 and its two-hundred day moving average price is $40.06. The firm has a market cap of $11.31 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.60 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. On average, analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

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.