Sanctuary Advisors LLC Boosts Holdings in MGM Resorts International (NYSE:MGM)

Sanctuary Advisors LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 60.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,687 shares of the company’s stock after acquiring an additional 19,444 shares during the period. Sanctuary Advisors LLC’s holdings in MGM Resorts International were worth $1,954,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MGM. Fifth Third Bancorp boosted its position in shares of MGM Resorts International by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 14,975 shares of the company’s stock valued at $665,000 after purchasing an additional 525 shares during the period. &PARTNERS grew its position in shares of MGM Resorts International by 145.3% during the second quarter. &PARTNERS now owns 20,213 shares of the company’s stock worth $898,000 after acquiring an additional 11,972 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of MGM Resorts International by 7.0% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,444 shares of the company’s stock valued at $731,000 after acquiring an additional 1,075 shares during the period. Atomi Financial Group Inc. raised its position in MGM Resorts International by 21.3% in the 2nd quarter. Atomi Financial Group Inc. now owns 13,705 shares of the company’s stock valued at $609,000 after purchasing an additional 2,404 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. boosted its stake in MGM Resorts International by 4.4% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 8,820 shares of the company’s stock worth $392,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 4.4 %

Shares of MGM Resorts International stock opened at $33.80 on Thursday. The company has a 50-day moving average of $38.16 and a two-hundred day moving average of $39.31. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market cap of $10.06 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Wells Fargo & Company decreased their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Finally, UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.54.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.