Cwm LLC Has $2.33 Million Holdings in MGM Resorts International $MGM

Key Points

• Cwm LLC increased its holdings in MGM Resorts International by 20.8% in Q2, with a total investment now valued at $2.33 million.
• The company's stock price opened at $31.58, with a market capitalization of $8.60 billion and a PE ratio of 17.35.
• MGM reported earnings of $0.79 EPS for the quarter, exceeding analysts' estimates, and reported a revenue of $4.40 billion.

Cwm LLC boosted its stake in MGM Resorts International (NYSE:MGM - Free Report) by 20.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,829 shares of the company's stock after purchasing an additional 11,698 shares during the period. Cwm LLC's holdings in MGM Resorts International were worth $2,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its holdings in MGM Resorts International by 15.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,435 shares of the company's stock valued at $1,356,000 after purchasing an additional 5,265 shares during the period. Concurrent Investment Advisors LLC increased its holdings in MGM Resorts International by 4.1% in the second quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company's stock valued at $274,000 after purchasing an additional 315 shares during the period. Apollon Wealth Management LLC increased its holdings in MGM Resorts International by 12.8% in the second quarter. Apollon Wealth Management LLC now owns 11,380 shares of the company's stock valued at $391,000 after purchasing an additional 1,288 shares during the period. U S Global Investors Inc. increased its holdings in MGM Resorts International by 33.3% in the second quarter. U S Global Investors Inc. now owns 4,000 shares of the company's stock valued at $138,000 after purchasing an additional 1,000 shares during the period. Finally, Aberdeen Group plc increased its holdings in MGM Resorts International by 3.7% in the second quarter. Aberdeen Group plc now owns 164,217 shares of the company's stock valued at $5,647,000 after purchasing an additional 5,805 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

MGM stock opened at $31.58 on Friday. The stock has a market capitalization of $8.60 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.30 and a beta of 1.67. The company's 50-day moving average is $35.50 and its 200-day moving average is $34.08. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $42.53.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.21. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The business's revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Equities research analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director owned 5,385,478 shares of the company's stock, valued at $190,753,630.76. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Mcmanus sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the transaction, the insider directly owned 31,521 shares in the company, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MGM shares. Macquarie decreased their price objective on MGM Resorts International from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $54.00 to $53.00 in a research report on Monday, September 22nd. JPMorgan Chase & Co. cut their price target on shares of MGM Resorts International from $43.00 to $41.00 and set a "neutral" rating on the stock in a research report on Thursday. Citigroup raised shares of MGM Resorts International from a "hold" rating to a "strong-buy" rating and upped their price target for the company from $55.00 to $57.00 in a research report on Wednesday, July 9th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of MGM Resorts International in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $48.78.

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.

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