American Financial Advisors LLC Sells 500 Shares of MGM Resorts International (NYSE:MGM)

American Financial Advisors LLC lowered its stake in MGM Resorts International (NYSE:MGM) by 4.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,859 shares of the company’s stock after selling 500 shares during the period. American Financial Advisors LLC’s holdings in MGM Resorts International were worth $385,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. ACR Alpine Capital Research LLC acquired a new stake in MGM Resorts International during the 1st quarter worth approximately $3,922,000. Marshall Wace LLP lifted its holdings in MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares during the period. Maverick Capital Ltd. bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at about $1,211,000. Texas Permanent School Fund Corp increased its stake in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after buying an additional 245 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in shares of MGM Resorts International during the second quarter worth about $3,314,000. 68.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGM has been the subject of several recent analyst reports. Susquehanna increased their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. JMP Securities reduced their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a report on Monday, October 14th. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $54.08.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem purchased 147,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Paul J. Salem bought 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the acquisition, the director now owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Trading Up 1.4 %

Shares of NYSE:MGM traded up $0.59 during midday trading on Tuesday, hitting $42.31. 1,816,149 shares of the stock traded hands, compared to its average volume of 4,034,255. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The business’s 50 day moving average is $38.41 and its two-hundred day moving average is $40.23. The stock has a market capitalization of $12.85 billion, a PE ratio of 16.33, a P/E/G ratio of 0.97 and a beta of 2.23. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.59 earnings per share. MGM Resorts International’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts forecast that MGM Resorts International will post 2.54 earnings per share for the current year.

MGM Resorts International 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.