MGM Resorts International (NYSE:MGM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in MGM Resorts International (NYSE:MGM) by 3.0% in the second quarter, HoldingsChannel reports. The fund owned 109,640 shares of the company’s stock after selling 3,348 shares during the quarter. Victory Capital Management Inc.’s holdings in MGM Resorts International were worth $4,872,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. UMB Bank n.a. raised its position in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares during the last quarter. Mendota Financial Group LLC raised its position in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after purchasing an additional 278 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

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

MGM Resorts International Stock Performance

NYSE:MGM opened at $36.44 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The stock has a market capitalization of $11.43 billion, a P/E ratio of 13.93, a PEG ratio of 0.64 and a beta of 2.22. The company has a 50 day moving average price of $39.67 and a 200 day moving average price of $41.39. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. Equities research analysts forecast that MGM Resorts International will post 2.68 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on MGM shares. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. BTIG Research started coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price objective for the company. JMP Securities cut their price objective on shares of MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price objective on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $53.93.

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.