Sanctuary Advisors LLC Acquires 19,444 Shares of MGM Resorts International (NYSE:MGM)

Sanctuary Advisors LLC lifted its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 60.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,687 shares of the company's stock after acquiring an additional 19,444 shares during the period. Sanctuary Advisors LLC's holdings in MGM Resorts International were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its position in MGM Resorts International by 33.3% during the second 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 last quarter. HB Wealth Management LLC raised its position in MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock worth $219,000 after acquiring an additional 293 shares in the last quarter. Quent Capital LLC lifted its stake in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company's stock valued at $93,000 after acquiring an additional 304 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock valued at $2,080,000 after acquiring an additional 309 shares during the period. Finally, Lazari Capital Management Inc. raised its holdings in shares of MGM Resorts International by 6.3% in the 2nd quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company's stock valued at $250,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on 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 directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

MGM stock traded down $0.36 during midday trading on Thursday, reaching $33.44. The company had a trading volume of 5,114,844 shares, compared to its average volume of 4,074,754. MGM Resorts International has a 1-year low of $33.28 and a 1-year high of $48.24. The stock has a 50 day moving average price of $38.03 and a 200-day moving average price of $39.28. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities research analysts expect that MGM Resorts International will post 2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MGM shares. JMP Securities dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a research note on Monday, November 25th. Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. UBS Group raised shares of MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Truist Financial reduced their price objective on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $52.54.

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.