Sebold Capital Management Inc. Purchases 6,840 Shares of MGM Resorts International (NYSE:MGM)

Sebold Capital Management Inc. boosted its position in MGM Resorts International (NYSE:MGM - Free Report) by 110.3% during the 1st quarter, according to its most recent 13F 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 quarter. Sebold Capital Management Inc.'s holdings in MGM Resorts International were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after buying an additional 411 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at $28,000. Golden State Wealth Management LLC raised its position in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 455 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at $33,000. Finally, CX Institutional purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

MGM has been the topic of several research reports. Macquarie lowered their price objective on shares of 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. Stifel Nicolaus lowered their price objective on shares of 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. Susquehanna raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Morgan Stanley reduced their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup lowered shares of MGM Resorts International from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.06.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Corey Ian Sanders sold 40,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief operating officer owned 281,530 shares of the company's stock, valued at $9,693,077.90. This trade represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,261 shares of company stock worth $3,486,367. 3.06% of the stock is owned by company insiders.

MGM Resorts International Stock Down 0.6%

MGM Resorts International stock traded down $0.23 during trading hours on Friday, hitting $37.45. The stock had a trading volume of 2,311,196 shares, compared to its average volume of 4,943,484. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $10.19 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 2.59 and a beta of 1.76. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The stock's 50-day moving average price is $33.00 and its 200-day moving average price is $32.85.

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

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

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.