How Insiders and Institutions are Trading MGM Resorts International (MGM)

Aaron Brown
September 19, 2017

With so many names near all-time highs, investors may need to crunch the numbers to evaluate which stocks are still a good buy even at current price levels.

Other equities research analysts also recently issued research reports about the company. The rating was downgraded by Vetr on Monday, August 31 to "Strong-Buy". Bank of America Corporation reissued a "buy" rating and issued a $40.00 price target (up previously from $38.00) on shares of MGM Resorts International in a research report on Friday, September 8th. On average, analysts predict that MGM Resorts International will post $1.29 EPS for the current fiscal year. On Monday, May 1 Mandekic Anthony Leo sold $370,375 worth of MGM Resorts International (NYSE:MGM) or 11,913 shares. The firm has "Buy" rating given on Friday, February 17 by Stifel Nicolaus. A rating of 4 or 5 would represent a Sell recommendation. The stock touched 52-week High of $34.65 on 09/07/17 and 52-week Low of $24.78 on 09/21/16. The stock's 50 day moving average is $32.03 and its 200-day moving average is $30.60.

At a news conference today, representatives from MGM say the casino will create 7,000 jobs, and provide a total economic impact of $2.9 billion by 2019.

MGM Resorts International (NYSE:MGM) CAO Robert Selwood sold 40,325 shares of the firm's stock in a transaction that occurred on Wednesday, September 6th. The institutional investor held 104,031 shares of the investment bankers and brokers and service company at the end of 2016Q4, valued at $5.87M, up from 20,905 at the end of the previous reported quarter. This estimate is provided by 10 analysts. The Lord Abbett & Company holds 1.45 million shares with $41.78 million value, up from 1.42M last quarter. The company has a payout ratio of 0.00%.

Concourse Capital Management Llc decreased Mgm Resorts International (MGM) stake by 12.32% reported in 2016Q4 SEC filing. The original version of this news story can be accessed at https://stocknewstimes.com/2017/09/17/schroder-investment-management-group-buys-783844-shares-of-mgm-resorts-international-mgm.html. If you are accessing this news story on another website, it was illegally copied and reposted in violation of USA & worldwide copyright and trademark legislation.

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Springfield's Mayor and City Council president are expressing confidence that MGM Resorts International remains committed to the MGM Springfield casino project, as the company announces plans to build another gaming resort in Bridgeport, Connecticut. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Since May 1, 2017, it had 0 insider purchases, and 9 sales for $3.33 million activity. Stockholders of record on Monday, September 11th were given a dividend of $0.11 per share. Wells Fargo And Co Mn holds 0.01% or 1.31 million shares. MGM said it was put at a competitive disadvantage after CT officials created a special pathway for the tribes to build a casino on non-tribal land.

Among new and sold out positions, 68 holders initiated new positions by a total of 45.89 million shares and 61 holders exited their positions by a total of 15.02 million shares. Companies may issue new shares and buy back their own shares. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis Herman sold 3,745 shares of the company's stock in a transaction dated Tuesday, August 1st. Share performance for the month is now at 1.98%. Following the completion of the sale, the insider now directly owns 145,105 shares in the company, valued at $4,807,328.65. The disclosure for this sale can be found here. Similar statistics are true for the second largest owner, Price T Rowe Associates Inc /Md/, which owns 35,985,465 shares of the stock are valued at $1.15 billion.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raiff Prns has 1.77% invested in MGM Resorts International (NYSE:MGM) for 25,000 shares. Toronto Dominion Bank now owns 5,020 shares of the company's stock worth $138,000 after buying an additional 1,099 shares in the last quarter. Moreover, Private Advisor Group Inc Ltd has 0.01% invested in MGM Resorts International (NYSE:MGM) for 14,992 shares. The Virginia-based Yorktown Management & Research Co Inc has invested 0.71% in the stock. Gates Mngmt invested 3.35% of its portfolio in MGM Resorts International (NYSE:MGM). LLC now owns 7,403 shares of the company's stock worth $203,000 after buying an additional 1,724 shares in the last quarter.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Thursday, July 27th.

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