Sanctuary Advisors LLC Purchases New Holdings in MGM Resorts International (NYSE:MGM)

Sanctuary Advisors LLC acquired a new position in MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,243 shares of the company’s stock, valued at approximately $1,325,000.

Several other institutional investors have also added to or reduced their stakes in MGM. International Assets Investment Management LLC bought a new stake in MGM Resorts International during the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its stake in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the period. Accent Capital Management LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in MGM Resorts International during the 2nd quarter worth $49,000. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other news, CEO William Hornbuckle purchased 58,900 shares of the company’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the purchase, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. 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 the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares in the company, valued at $12,719,987.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 216,400 shares of company stock worth $7,312,197 in the last 90 days. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM stock opened at $39.59 on Friday. The firm has a market capitalization of $12.42 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 0.68 and a beta of 2.23. 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’s 50-day simple moving average is $37.69 and its 200-day simple moving average is $40.81. 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 issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. As a group, equities analysts forecast that MGM Resorts International will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Morgan Stanley reduced their price target on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. 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 research note on Thursday, August 1st. Finally, JMP Securities reduced 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 research note 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.93.

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.