American Financial Advisors LLC Sells 350 Shares of MGM Resorts International (NYSE:MGM)

American Financial Advisors LLC decreased its holdings in MGM Resorts International (NYSE:MGM) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,140 shares of the company’s stock after selling 350 shares during the period. American Financial Advisors LLC’s holdings in MGM Resorts International were worth $498,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tyler Stone Wealth Management bought a new position in shares of MGM Resorts International in the 2nd quarter valued at about $26,000. CVA Family Office LLC bought a new stake in MGM Resorts International in the fourth quarter worth about $28,000. VitalStone Financial LLC lifted its stake in MGM Resorts International by 108.9% in the first quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after purchasing an additional 380 shares during the last quarter. International Assets Investment Management LLC bought a new stake in MGM Resorts International in the third quarter worth about $28,000. Finally, Clear Street Markets LLC lifted its stake in MGM Resorts International by 140.9% in the first quarter. Clear Street Markets LLC now owns 819 shares of the company’s stock worth $36,000 after purchasing an additional 479 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Up 0.9 %

NYSE MGM traded up $0.38 on Friday, hitting $42.42. The stock had a trading volume of 2,657,753 shares, compared to its average volume of 3,859,832. The business’s fifty day moving average price is $43.99 and its 200 day moving average price is $41.86. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The stock has a market cap of $13.45 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.73 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts anticipate that MGM Resorts International will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGM. JPMorgan Chase & Co. raised their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Bank Of America (Bofa) raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Barclays reduced their target price on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Finally, Mizuho began coverage on shares of MGM Resorts International in a research report on Tuesday, March 26th. They set a “buy” rating and a $61.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.34.

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.