MGM Resorts International (NYSE:MGM) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in MGM Resorts International (NYSE:MGM) by 0.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 810,900 shares of the company’s stock after selling 3,800 shares during the period. Primecap Management Co. CA owned 0.26% of MGM Resorts International worth $36,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MGM. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Accent Capital Management LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at about $45,000. Finally, Mendota Financial Group LLC raised its holdings in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other MGM Resorts International news, CEO William Hornbuckle purchased 58,900 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The purchase was disclosed in a filing with the SEC, which is available at this link. In other MGM Resorts International news, CEO William Hornbuckle purchased 58,900 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul J. Salem bought 147,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the transaction, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The disclosure for this purchase can be found here. Insiders have acquired 216,400 shares of company stock worth $7,312,197 over the last ninety days. 2.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MGM shares. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna increased their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. BTIG Research initiated coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price target for the company. Macquarie cut their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley cut their price target on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $53.93.

MGM Resorts International Trading Up 2.1 %

Shares of MGM Resorts International stock opened at $37.21 on Wednesday. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The stock has a market cap of $11.67 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.64 and a beta of 2.22. The company has a 50-day moving average of $39.53 and a two-hundred day moving average of $41.35.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 2.68 EPS for the current fiscal year.

About MGM Resorts International

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.