MGM Resorts International $MGM Shares Sold by Czech National Bank

Czech National Bank trimmed its holdings in MGM Resorts International (NYSE:MGM) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,557 shares of the company’s stock after selling 829 shares during the period. Czech National Bank’s holdings in MGM Resorts International were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MGM. Mascagni Wealth Management Inc. acquired a new position in MGM Resorts International during the 4th quarter worth approximately $28,000. Golden State Wealth Management LLC grew its holdings in MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 455 shares in the last quarter. CX Institutional purchased a new stake in shares of MGM Resorts International during the 1st quarter worth approximately $36,000. Bayforest Capital Ltd purchased a new stake in shares of MGM Resorts International during the 1st quarter worth approximately $43,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after buying an additional 529 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares in the company, valued at $190,753,630.76. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider owned 31,521 shares in the company, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Citigroup upgraded shares of MGM Resorts International from a “hold” rating to a “strong-buy” rating and upped their price target for the company from $55.00 to $57.00 in a research report on Wednesday, July 9th. Seaport Res Ptn cut shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Mizuho dropped their price objective on shares of MGM Resorts International from $59.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, Stifel Nicolaus boosted 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 note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $48.67.

MGM Resorts International Trading Down 0.3%

NYSE:MGM opened at $35.83 on Friday. The stock has a market capitalization of $9.75 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.52 and a beta of 1.69. The business’s 50-day simple moving average is $36.84 and its 200-day simple moving average is $33.78. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.21. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 EPS. Sell-side analysts expect 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.