Captrust Financial Advisors Has $302,000 Position in MGM Resorts International (NYSE:MGM)

Captrust Financial Advisors lessened its position in MGM Resorts International (NYSE:MGM) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,736 shares of the company’s stock after selling 879 shares during the quarter. Captrust Financial Advisors’ holdings in MGM Resorts International were worth $302,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the second quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Eastern Bank bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $35,000. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of MGM Resorts International in the third quarter valued at $44,000. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 1.5 %

Shares of MGM opened at $36.25 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $10.79 billion, a PE ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 2.20. The firm’s 50 day moving average is $38.37 and its 200-day moving average is $39.37. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Truist Financial dropped their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reduced their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Finally, Morgan Stanley increased their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price 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.