MGM Resorts International (NYSE:MGM) Shares Acquired by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in shares of MGM Resorts International (NYSE:MGM) by 84.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,295 shares of the company’s stock after purchasing an additional 6,559 shares during the quarter. Captrust Financial Advisors’ holdings in MGM Resorts International were worth $495,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGM. Assetmark Inc. grew its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the period. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International during the 4th quarter worth $28,000. Global Retirement Partners LLC boosted its position in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Quarry LP increased its holdings in MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company’s stock valued at $50,000 after purchasing an additional 1,276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in MGM Resorts International by 74.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock valued at $51,000 after purchasing an additional 633 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MGM shares. Capital One Financial upped their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.94.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $33.96 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The business has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $33.74.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International announced that its board has authorized a share buyback plan on Wednesday, April 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 22.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at MGM Resorts International

In related news, COO Corey Ian Sanders sold 40,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the sale, the chief operating officer now owns 281,530 shares of the company’s stock, valued at $9,693,077.90. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 5,261 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. Insiders sold a total of 51,261 shares of company stock valued at $1,788,007 in the last quarter. Insiders own 3.06% of the company’s stock.

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.