Vanguard Capital Wealth Advisors Sells 5,800 Shares of MGM Resorts International (NYSE:MGM)

Vanguard Capital Wealth Advisors trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 31.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,926 shares of the company’s stock after selling 5,800 shares during the period. Vanguard Capital Wealth Advisors’ holdings in MGM Resorts International were worth $578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the 4th quarter valued at $28,000. Sandy Spring Bank grew its position in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after buying an additional 500 shares during the period. Sunbelt Securities Inc. increased its stake in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after acquiring an additional 1,000 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after acquiring an additional 367 shares during the period. Finally, Huntington National Bank boosted its stake in MGM Resorts International by 46.7% during the 3rd quarter. Huntington National Bank now owns 1,999 shares of the company’s stock worth $73,000 after acquiring an additional 636 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MGM shares. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Macquarie restated an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.34.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM traded down $2.17 during trading hours on Tuesday, hitting $39.44. The company had a trading volume of 5,799,996 shares, compared to its average volume of 3,833,235. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.69 and a beta of 2.19. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $43.69 and a 200-day moving average of $42.22. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Equities analysts anticipate that MGM Resorts International will post 2.46 EPS for the current fiscal year.

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.