Sanctuary Advisors LLC Cuts Stock Position in MGM Resorts International (NYSE:MGM)

Sanctuary Advisors LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,279 shares of the company’s stock after selling 6,408 shares during the period. Sanctuary Advisors LLC’s holdings in MGM Resorts International were worth $1,564,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter valued at about $28,000. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International in the fourth quarter valued at about $28,000. Brooklyn Investment Group purchased a new stake in MGM Resorts International in the 3rd quarter valued at approximately $44,000. Planning Capital Management Corp acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $45,000. Finally, Modus Advisors LLC acquired a new position in MGM Resorts International during the 4th quarter worth approximately $46,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Up 0.9 %

NYSE MGM opened at $36.32 on Tuesday. The stock has a market cap of $10.37 billion, a PE ratio of 15.13, a P/E/G ratio of 0.98 and a beta of 2.20. The business has a 50 day moving average price of $34.55 and a two-hundred day moving average price of $36.80. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on MGM shares. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, February 14th. JMP Securities restated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Finally, Mizuho boosted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.29.

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.