DMC Group LLC Makes New $308,000 Investment in MGM Resorts International $MGM

DMC Group LLC bought a new position in shares of MGM Resorts International (NYSE:MGM) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,949 shares of the company’s stock, valued at approximately $308,000.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its stake in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 455 shares in the last quarter. CX Institutional bought a new position in MGM Resorts International in the first quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after purchasing an additional 529 shares during the last quarter. Bayforest Capital Ltd bought a new stake in MGM Resorts International during the 1st quarter worth $43,000. Finally, UMB Bank n.a. grew its stake in shares of MGM Resorts International by 91.0% in the first quarter. UMB Bank n.a. now owns 1,616 shares of the company’s stock worth $48,000 after purchasing an additional 770 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

NYSE MGM opened at $33.08 on Wednesday. The company’s 50 day moving average is $36.08 and its 200-day moving average is $34.03. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $42.53. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The firm has a market cap of $9.00 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.67.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.21. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director directly owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. This trade represents a 65.56% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Barclays upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. UBS Group cut their price target on shares of MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Citizens Jmp lowered MGM Resorts International from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $54.00 to $53.00 in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.50.

MGM Resorts International Company 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.