Aptus Capital Advisors LLC Sells 22,546 Shares of MGM Resorts International (NYSE:MGM)

Aptus Capital Advisors LLC decreased its position in MGM Resorts International (NYSE:MGM) by 49.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,634 shares of the company’s stock after selling 22,546 shares during the period. Aptus Capital Advisors LLC’s holdings in MGM Resorts International were worth $1,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its holdings in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the period. 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 valued at $42,000 after acquiring an additional 237 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $45,000. Finally, Mendota Financial Group LLC boosted its position in shares of MGM Resorts International by 36.0% in 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. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In related news, Director Paul J. Salem bought 147,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now 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 accessible through this link. In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $34.00 per share, with a total value of $340,000.00. Following the acquisition, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Salem bought 147,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Insiders acquired a total of 216,400 shares of company stock worth $7,312,197 in the last three months. Insiders own 2.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus boosted 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. JMP Securities cut their target price on shares of MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a report on Thursday, August 1st. Finally, Susquehanna boosted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

MGM Resorts International Trading Up 0.5 %

NYSE:MGM opened at $37.59 on Tuesday. The company has a market cap of $11.42 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.66 and a beta of 2.24. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The business has a 50 day moving average price of $40.98 and a two-hundred day moving average price of $41.81. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping 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 business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that MGM Resorts International will post 2.75 EPS 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.