Vontobel Holding Ltd. Sells 12,523 Shares of MGM Resorts International $MGM

Key Points

• Vontobel Holding Ltd. has reduced its stake in MGM Resorts International by 57.5% to 9,255 shares after selling 12,523 shares in the second quarter.
• Insider John Mcmanus sold 60,000 shares, a 65.56% reduction in his position, while Director Keith A. Meister sold 242,000 shares, a 4.3% decrease.
• MGM Resorts International's stock has shown a 2.8% rise recently, with analysts expecting a current year EPS of $2.21.

Vontobel Holding Ltd. decreased its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 57.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the company's stock after selling 12,523 shares during the quarter. Vontobel Holding Ltd.'s holdings in MGM Resorts International were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGM. Wealth Enhancement Advisory Services LLC grew its holdings in MGM Resorts International by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company's stock worth $1,830,000 after buying an additional 23,234 shares in the last quarter. Achmea Investment Management B.V. grew its holdings in MGM Resorts International by 46.3% during the first quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company's stock worth $1,045,000 after buying an additional 11,152 shares in the last quarter. Key Colony Management LLC grew its holdings in MGM Resorts International by 9.8% during the second quarter. Key Colony Management LLC now owns 615,000 shares of the company's stock worth $21,150,000 after buying an additional 55,000 shares in the last quarter. Osborne Partners Capital Management LLC grew its holdings in MGM Resorts International by 4.1% during the first quarter. Osborne Partners Capital Management LLC now owns 326,197 shares of the company's stock worth $9,668,000 after buying an additional 12,833 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in MGM Resorts International by 3.7% during the first quarter. D.A. Davidson & CO. now owns 303,470 shares of the company's stock worth $8,995,000 after buying an additional 10,690 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Insiders Place Their Bets

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

MGM Resorts International Stock Up 2.8%

MGM stock opened at $32.47 on Wednesday. The stock's fifty day simple moving average is $35.67 and its two-hundred day simple moving average is $34.04. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $42.53. The stock has a market cap of $8.84 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.30 and a beta of 1.67.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on MGM shares. Morgan Stanley upped their price target on MGM Resorts International from $41.00 to $43.00 and gave the stock an "equal weight" rating in a report on Thursday, September 11th. JMP Securities reiterated a "market perform" rating on shares of MGM Resorts International in a report on Thursday, June 26th. Stifel Nicolaus upped their price target on MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Truist Financial upped their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, UBS Group cut their price objective on MGM Resorts International from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.61.

MGM Resorts International Company 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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