MGM Resorts International (NYSE:MGM) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 12.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 45,279 shares of the company’s stock after selling 6,408 shares during the quarter. Sanctuary Advisors LLC’s holdings in MGM Resorts International were worth $1,564,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MGM. Blue Trust Inc. lifted its stake in MGM Resorts International by 120.6% during the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after purchasing an additional 737 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of MGM Resorts International by 6,902.6% during the third quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock worth $1,705,000 after purchasing an additional 43,003 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of MGM Resorts International by 37.7% during the third quarter. Assenagon Asset Management S.A. now owns 198,664 shares of the company’s stock worth $7,766,000 after purchasing an additional 54,355 shares during the period. Lake Street Advisors Group LLC lifted its position in shares of MGM Resorts International by 13.5% in the 3rd quarter. Lake Street Advisors Group LLC now owns 5,242 shares of the company’s stock worth $205,000 after buying an additional 623 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of MGM Resorts International by 50.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,037 shares of the company’s stock valued at $715,000 after buying an additional 6,085 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGM. Leerink Partners cut shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Susquehanna Bancshares raised their price target on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Capital One Financial increased 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. Finally, Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Trading Up 0.9 %

Shares of NYSE:MGM opened at $36.32 on Tuesday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. 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 firm has a market cap of $10.37 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a 50 day moving average of $34.55 and a 200-day moving average of $36.80.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.