Sanctuary Advisors LLC Grows Holdings in MGM Resorts International (NYSE:MGM)

Sanctuary Advisors LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 60.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,687 shares of the company’s stock after buying an additional 19,444 shares during the quarter. Sanctuary Advisors LLC’s holdings in MGM Resorts International were worth $1,954,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International in the third quarter valued at $28,000. Eastern Bank purchased a new position in MGM Resorts International during the third quarter worth about $35,000. UMB Bank n.a. boosted its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in MGM Resorts International in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $33.80 on Thursday. The firm has a market capitalization of $10.06 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The stock’s 50 day moving average price is $38.16 and its 200 day moving average price is $39.31. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, sell-side analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MGM. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. JMP Securities dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Finally, Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $52.54.

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.