American Capital Advisory LLC Has $2.38 Million Holdings in MGM Resorts International (NYSE:MGM)

American Capital Advisory LLC lifted its position in MGM Resorts International (NYSE:MGM - Free Report) by 93.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,396 shares of the company's stock after purchasing an additional 38,930 shares during the quarter. MGM Resorts International makes up 1.3% of American Capital Advisory LLC's investment portfolio, making the stock its 13th biggest holding. American Capital Advisory LLC's holdings in MGM Resorts International were worth $2,383,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in MGM Resorts International by 17.0% during the fourth quarter. IFP Advisors Inc now owns 4,824 shares of the company's stock worth $167,000 after acquiring an additional 702 shares during the period. Bank of New York Mellon Corp grew its stake in shares of MGM Resorts International by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company's stock worth $45,876,000 after purchasing an additional 42,256 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $2,053,000. Jones Financial Companies Lllp grew its holdings in shares of MGM Resorts International by 56.4% in the 4th quarter. Jones Financial Companies Lllp now owns 14,616 shares of the company's stock worth $506,000 after acquiring an additional 5,272 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in MGM Resorts International in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the completion of the sale, the chief operating officer directly owned 281,530 shares of the company's stock, valued at approximately $9,693,077.90. This represents a 12.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Taylor sold 5,261 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total value of $183,766.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,261 shares of company stock worth $3,486,367. 3.06% of the stock is currently owned by company insiders.

MGM Resorts International Trading Up 2.2%

MGM traded up $0.81 during trading on Wednesday, hitting $37.70. 5,316,262 shares of the company's stock were exchanged, compared to its average volume of 4,938,480. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The stock has a 50 day moving average price of $32.74 and a 200 day moving average price of $32.80. The firm has a market cap of $10.26 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 2.28 and a beta of 1.76. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 20.64% and a net margin of 3.95%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International declared that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent research reports. Citizens Jmp cut shares of MGM Resorts International from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 26th. Truist Financial cut their price target on MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Macquarie reduced their price objective on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Susquehanna lifted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a research report on Thursday, May 1st. Finally, Barclays boosted their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $48.29.

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.