Ethic Inc. Has $630,000 Stock Position in MGM Resorts International $MGM

Ethic Inc. increased its holdings in MGM Resorts International (NYSE:MGM) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,328 shares of the company’s stock after acquiring an additional 1,480 shares during the period. Ethic Inc.’s holdings in MGM Resorts International were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MGM. Kingstone Capital Partners Texas LLC purchased a new stake in shares of MGM Resorts International in the second quarter worth approximately $171,632,000. Helikon Investments Ltd purchased a new position in MGM Resorts International during the first quarter valued at approximately $54,418,000. Fuller & Thaler Asset Management Inc. acquired a new position in MGM Resorts International in the 1st quarter valued at approximately $47,631,000. AQR Capital Management LLC increased its stake in MGM Resorts International by 104.2% in the 1st quarter. AQR Capital Management LLC now owns 2,611,278 shares of the company’s stock valued at $75,962,000 after buying an additional 1,332,313 shares during the period. Finally, GMT Capital Corp purchased a new stake in MGM Resorts International in the 1st quarter worth approximately $36,656,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $32.91 on Tuesday. The firm has a market capitalization of $8.96 billion, a PE ratio of 18.08, a PEG ratio of 1.48 and a beta of 1.67. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $42.53. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. The firm’s fifty day simple moving average is $35.13 and its 200 day simple moving average is $34.34.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.21. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The business’s revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of the stock in a transaction that occurred 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 owned 31,521 shares in the company, valued at $1,138,538.52. This represents a 65.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the transaction, the director directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MGM shares. UBS Group dropped 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 note on Thursday, September 11th. Barclays boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Stifel Nicolaus cut their price target on MGM Resorts International from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Seaport Res Ptn cut MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Finally, Susquehanna increased their price objective on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a report on Tuesday, July 29th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.