Wealthcare Advisory Partners LLC Sells 986 Shares of MGM Resorts International (NYSE:MGM)

Wealthcare Advisory Partners LLC lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,862 shares of the company’s stock after selling 986 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in MGM Resorts International were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Regatta Capital Group LLC boosted its position in MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock valued at $614,000 after purchasing an additional 247 shares in the last quarter. Sandy Spring Bank boosted its position in MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in MGM Resorts International by 3.1% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after buying an additional 292 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in MGM Resorts International by 2.7% in the fourth quarter. 180 Wealth Advisors LLC now owns 11,731 shares of the company’s stock valued at $534,000 after buying an additional 312 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 2.5 %

Shares of MGM stock opened at $44.44 on Friday. The stock has a 50 day moving average of $40.87 and a 200 day moving average of $42.89. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The stock has a market cap of $13.94 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.90 and a beta of 2.24. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. MGM Resorts International’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the business earned $0.44 earnings per share. As a group, sell-side analysts expect that MGM Resorts International will post 3.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. increased their price target on MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays increased their price target on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho increased their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. Finally, JMP Securities increased their price target on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating and twelve 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 an average target price of $54.83.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock worth $5,991,759. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Company 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.