Creative Planning decreased its position in MGM Resorts International (NYSE:MGM – Free Report) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,492 shares of the company’s stock after selling 558 shares during the quarter. Creative Planning’s holdings in MGM Resorts International were worth $1,647,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. acquired a new stake in MGM Resorts International in the second quarter valued at approximately $354,000. PSI Advisors LLC raised its holdings in MGM Resorts International by 15.1% in the second quarter. PSI Advisors LLC now owns 1,525 shares of the company’s stock valued at $67,000 after acquiring an additional 200 shares in the last quarter. Osborne Partners Capital Management LLC raised its holdings in MGM Resorts International by 1.1% in the second quarter. Osborne Partners Capital Management LLC now owns 279,857 shares of the company’s stock valued at $12,291,000 after acquiring an additional 3,132 shares in the last quarter. Bensler LLC acquired a new stake in MGM Resorts International in the second quarter valued at approximately $3,146,000. Finally, Black Swift Group LLC increased its stake in MGM Resorts International by 12.5% in the second quarter. Black Swift Group LLC now owns 45,000 shares of the company’s stock valued at $1,976,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.
Insider Buying and Selling at MGM Resorts International
In other news, COO Corey Ian Sanders sold 25,000 shares of MGM Resorts International stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.21, for a total transaction of $1,130,250.00. Following the completion of the transaction, the chief operating officer now owns 136,632 shares of the company’s stock, valued at approximately $6,177,132.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Corey Ian Sanders sold 25,000 shares of MGM Resorts International stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.21, for a total transaction of $1,130,250.00. Following the completion of the transaction, the chief operating officer now owns 136,632 shares of the company’s stock, valued at approximately $6,177,132.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Mcmanus sold 10,000 shares of MGM Resorts International stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $46.59, for a total value of $465,900.00. Following the transaction, the insider now directly owns 32,283 shares of the company’s stock, valued at approximately $1,504,064.97. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,454 shares of company stock valued at $2,249,894. 2.39% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on MGM Resorts International
MGM Resorts International Stock Performance
NYSE:MGM opened at $37.16 on Friday. The firm’s fifty day moving average price is $41.30 and its 200 day moving average price is $43.03. MGM Resorts International has a 1-year low of $29.57 and a 1-year high of $51.35. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.04 and a quick ratio of 2.00. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 36.08 and a beta of 2.12.
MGM Resorts International (NYSE:MGM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. MGM Resorts International had a net margin of 2.53% and a return on equity of 2.10%. The firm had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the firm posted $0.03 EPS. MGM Resorts International’s quarterly revenue was up 20.7% on a year-over-year basis. On average, sell-side analysts expect that MGM Resorts International will post 2.35 EPS for the current year.
MGM Resorts International Company 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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