MGM Resorts International (NYSE:MGM) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 70.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,878 shares of the company’s stock after selling 9,087 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in MGM Resorts International were worth $172,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings 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 purchasing an additional 237 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after acquiring an additional 245 shares during the period. Mendota Financial Group LLC boosted its stake in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock valued at $168,000 after acquiring an additional 268 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MGM Resorts International news, CEO William Hornbuckle acquired 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Hornbuckle bought 58,900 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Insiders have bought 216,400 shares of company stock valued at $7,312,197 over the last ninety days. Company insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MGM shares. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. JMP Securities dropped their price target on shares of MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BTIG Research assumed coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Susquehanna boosted their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $36.96 on Thursday. The business’s 50 day moving average price is $39.39 and its 200 day moving average price is $41.31. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.64 and a beta of 2.22. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating 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 firm 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 company posted $0.59 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that MGM Resorts International will post 2.68 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.