Dimensional Fund Advisors LP Sells 151,065 Shares of MGM Resorts International (NYSE:MGM)

Dimensional Fund Advisors LP reduced its position in MGM Resorts International (NYSE:MGM) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,068,403 shares of the company’s stock after selling 151,065 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.98% of MGM Resorts International worth $136,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC grew its position 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 worth $41,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. raised its stake in 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 during the period. Accent Capital Management LLC bought a new position in MGM Resorts International in the 4th quarter worth approximately $45,000. Finally, Mendota Financial Group LLC grew its holdings in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGM has been the topic of several research analyst reports. BTIG Research assumed coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 target price on the stock. UBS Group raised shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company cut their price objective on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Macquarie cut their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Trading Down 1.2 %

Shares of MGM opened at $37.31 on Friday. The company’s fifty day simple moving average is $38.92 and its 200-day simple moving average is $41.21. The company has a market cap of $11.70 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.64 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. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that MGM Resorts International will post 2.68 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William Hornbuckle purchased 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is currently owned by company insiders.

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.