Americana Partners LLC Takes Position in MGM Resorts International $MGM

Americana Partners LLC acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent filing with the SEC. The fund acquired 6,059 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bayforest Capital Ltd purchased a new position in MGM Resorts International during the 1st quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of MGM Resorts International by 66.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after acquiring an additional 529 shares during the period. Quarry LP boosted its position in shares of MGM Resorts International by 24.1% in the first quarter. Quarry LP now owns 1,795 shares of the company’s stock valued at $53,000 after acquiring an additional 349 shares during the period. Assetmark Inc. grew its stake in MGM Resorts International by 120.3% during the second quarter. Assetmark Inc. now owns 1,813 shares of the company’s stock valued at $62,000 after acquiring an additional 990 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in MGM Resorts International by 27.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,986 shares of the company’s stock worth $68,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM opened at $32.86 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $8.99 billion, a P/E ratio of 205.34, a PEG ratio of 1.40 and a beta of 1.66. The stock has a 50-day moving average price of $33.74 and a 200-day moving average price of $34.55. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32.

MGM Resorts International (NYSE:MGM) last released its 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). The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. Equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. The trade was a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of MGM Resorts International in a report on Wednesday, October 8th. Barclays dropped their price objective on MGM Resorts International from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Susquehanna upped their target price on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Morgan Stanley raised their price target on MGM Resorts International from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Finally, Macquarie cut their price objective on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Fourteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.58.

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.