Creative Planning Sells 20,566 Shares of MGM Resorts International (NYSE:MGM)

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Creative Planning decreased its holdings in MGM Resorts International (NYSE:MGM) by 52.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,603 shares of the company’s stock after selling 20,566 shares during the period. Creative Planning’s holdings in MGM Resorts International were worth $516,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MGM. Patriot Financial Group Insurance Agency LLC raised its stake in MGM Resorts International by 3,000.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock valued at $27,000 after buying an additional 900 shares during the period. Trust Co. of Vermont bought a new stake in MGM Resorts International in the second quarter valued at approximately $43,000. Valeo Financial Advisors LLC raised its stake in MGM Resorts International by 407.7% in the second quarter. Valeo Financial Advisors LLC now owns 1,523 shares of the company’s stock valued at $44,000 after buying an additional 1,223 shares during the period. Stephens Inc. AR raised its stake in MGM Resorts International by 33.6% in the third quarter. Stephens Inc. AR now owns 2,193 shares of the company’s stock valued at $61,000 after buying an additional 552 shares during the period. Finally, Resources Investment Advisors LLC. raised its stake in MGM Resorts International by 256.4% in the second quarter. Resources Investment Advisors LLC. now owns 2,780 shares of the company’s stock valued at $79,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Several equities analysts have recently commented on MGM shares. ValuEngine downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their target price on MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, September 6th. Roth Capital reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, October 31st. Nomura upped their target price on MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. MGM Resorts International presently has an average rating of “Hold” and a consensus price target of $31.50.

In related news, insider Atif Rafiq purchased 8,761 shares of MGM Resorts International stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average price of $28.55 per share, with a total value of $250,126.55. Following the completion of the transaction, the insider now directly owns 8,761 shares of the company’s stock, valued at approximately $250,126.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister purchased 79,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $29.43 per share, for a total transaction of $2,324,970.00. The disclosure for this purchase can be found here. Corporate insiders own 3.47% of the company’s stock.

MGM Resorts International stock opened at $31.10 on Friday. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $31.68. The stock’s 50 day moving average is $28.43 and its 200-day moving average is $27.97. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $16.21 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 4.51 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.37). The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.33 billion. MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, equities research analysts predict that MGM Resorts International will post 0.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, December 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Monday, December 9th. MGM Resorts International’s dividend payout ratio is currently 52.53%.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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