MGM Resorts International $MGM Shares Sold by Savant Capital LLC

Savant Capital LLC lessened its position in MGM Resorts International (NYSE:MGM) by 42.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

Other hedge funds have also recently bought and sold shares of the company. Davis Selected Advisers boosted its stake in MGM Resorts International by 4.5% during the 1st quarter. Davis Selected Advisers now owns 20,815,057 shares of the company’s stock valued at $616,958,000 after purchasing an additional 894,344 shares during the period. Invesco Ltd. raised its holdings in shares of MGM Resorts International by 7.7% during the first quarter. Invesco Ltd. now owns 6,233,213 shares of the company’s stock valued at $184,752,000 after buying an additional 447,870 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $171,632,000. AQR Capital Management LLC boosted its position in shares of MGM Resorts International by 104.2% during the first quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company’s stock worth $75,962,000 after buying an additional 1,332,313 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MGM Resorts International by 0.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,985,513 shares of the company’s stock worth $58,851,000 after buying an additional 5,407 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday, October 8th. Truist Financial cut their price objective on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. The Goldman Sachs Group reissued a “sell” rating and set a $31.00 target price on shares of MGM Resorts International in a research note on Thursday, October 30th. Finally, Macquarie decreased their price objective on shares of 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 analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $47.58.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Performance

NYSE:MGM opened at $32.86 on Friday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. 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 company has a 50-day moving average of $33.56 and a 200-day moving average of $34.53. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 205.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.66.

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 business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts forecast that MGM Resorts International will post 2.21 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.