Forsta AP Fonden acquired a new stake in shares of MGM Resorts International (NYSE:MGM – Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 70,300 shares of the company’s stock, valued at approximately $3,123,000.
Other institutional investors and hedge funds have also modified their holdings of the company. ICA Group Wealth Management LLC bought a new stake in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. McElhenny Sheffield Capital Management LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at $34,000. Tobam acquired a new stake in MGM Resorts International in the 4th quarter valued at $34,000. GPS Wealth Strategies Group LLC acquired a new stake in MGM Resorts International in the 1st quarter valued at $34,000. Finally, Accurate Wealth Management LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at $40,000. 64.88% of the stock is currently owned by institutional investors.
Insider Activity at MGM Resorts International
In related news, Director Keith A. Meister sold 250,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $43.79, for a total value of $10,947,500.00. Following the completion of the sale, the director now owns 6,423,778 shares in the company, valued at $281,297,238.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MGM Resorts International news, Director Keith A. Meister sold 250,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $43.79, for a total value of $10,947,500.00. Following the completion of the sale, the director now directly owns 6,423,778 shares in the company, valued at $281,297,238.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Mcmanus sold 10,000 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $43.91, for a total value of $439,100.00. Following the completion of the sale, the insider now owns 52,283 shares of the company’s stock, valued at $2,295,746.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,350 shares of company stock worth $11,899,881. 2.13% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
MGM Resorts International Trading Up 2.4 %
Shares of MGM opened at $43.09 on Friday. The stock’s fifty day simple moving average is $42.28 and its 200-day simple moving average is $41.57. The firm has a market capitalization of $15.68 billion, a PE ratio of 9.21 and a beta of 2.06. The company has a quick ratio of 2.15, a current ratio of 2.19 and a debt-to-equity ratio of 1.31. MGM Resorts International has a 12-month low of $27.79 and a 12-month high of $46.37.
MGM Resorts International (NYSE:MGM – Free Report) last released its quarterly earnings data on Monday, May 1st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.40. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.61 billion. MGM Resorts International had a negative return on equity of 1.33% and a net margin of 13.84%. The firm’s revenue was up 36.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, research analysts predict that MGM Resorts International will post 1.92 earnings per share for the current year.
MGM Resorts International Profile
MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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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