MGM Resorts International (NYSE:MGM) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its position in shares of MGM Resorts International (NYSE:MGM) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,684 shares of the company’s stock after selling 1,330 shares during the quarter. American Century Companies Inc.’s holdings in MGM Resorts International were worth $1,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MGM. Capital World Investors increased its holdings in MGM Resorts International by 17.7% during the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock worth $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $35,726,000. Boston Partners raised its position in MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares in the last quarter. LSV Asset Management bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $21,149,000. Finally, Fisher Asset Management LLC grew its position in MGM Resorts International by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after buying an additional 213,528 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of research reports. Morgan Stanley reduced their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Macquarie dropped their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Susquehanna upped 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. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities dropped their price target on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $53.93.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was 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 $210,716,912.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction 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 sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by company insiders.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $39.62 on Monday. The company has a market cap of $12.43 billion, a P/E ratio of 15.24, a PEG ratio of 0.68 and a beta of 2.22. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $38.11 and a two-hundred day moving average price of $41.03. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its 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 return on equity of 26.36% and a net margin of 5.15%. 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 firm 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, analysts anticipate that MGM Resorts International will post 2.63 EPS for the current 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.