Sebold Capital Management Inc. Has $387,000 Stock Position in MGM Resorts International (NYSE:MGM)

Sebold Capital Management Inc. grew its position in MGM Resorts International (NYSE:MGM - Free Report) by 110.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,041 shares of the company's stock after purchasing an additional 6,840 shares during the period. Sebold Capital Management Inc.'s holdings in MGM Resorts International were worth $387,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of MGM Resorts International by 3.3% during the fourth 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 in the last quarter. Proficio Capital Partners LLC purchased a new position in MGM Resorts International in the 4th quarter worth approximately $2,053,000. Jones Financial Companies Lllp grew its position in MGM Resorts International by 56.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,616 shares of the company's stock valued at $506,000 after acquiring an additional 5,272 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in MGM Resorts International in the fourth quarter valued at approximately $57,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the period. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

MGM stock traded down $0.23 during trading on Friday, reaching $37.45. 2,311,196 shares of the company's stock were exchanged, compared to its average volume of 4,944,924. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The firm has a market cap of $10.19 billion, a PE ratio of 16.72, a P/E/G ratio of 2.59 and a beta of 1.76. The company's fifty day moving average price is $33.11 and its 200-day moving average price is $32.86. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.79.

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

MGM Resorts International declared that its board has initiated a stock buyback program on Wednesday, April 30th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MGM. Citigroup downgraded shares of MGM Resorts International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Susquehanna increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Barclays lifted their price objective on MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Stifel Nicolaus cut their target price on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International has a consensus rating of "Moderate Buy" and a consensus target price of $48.06.

Insider Activity

In other news, COO Corey Ian Sanders sold 40,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the completion of the transaction, the chief operating officer owned 281,530 shares in the company, valued at approximately $9,693,077.90. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock worth $3,486,367 over the last three months. Corporate insiders own 3.06% of the company's stock.

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.