Apollon Wealth Management LLC Has $391,000 Position in MGM Resorts International $MGM

Apollon Wealth Management LLC raised its position in MGM Resorts International (NYSE:MGM) by 12.8% during the second quarter, Holdings Channel reports. The institutional investor owned 11,380 shares of the company’s stock after buying an additional 1,288 shares during the quarter. Apollon Wealth Management LLC’s holdings in MGM Resorts International were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MGM. XML Financial LLC lifted its stake in shares of MGM Resorts International by 0.9% during the second quarter. XML Financial LLC now owns 30,884 shares of the company’s stock valued at $1,062,000 after acquiring an additional 287 shares during the period. Amalgamated Bank raised its holdings in MGM Resorts International by 0.8% during the 1st quarter. Amalgamated Bank now owns 43,933 shares of the company’s stock worth $1,302,000 after purchasing an additional 329 shares during the last quarter. Quarry LP raised its holdings in MGM Resorts International by 24.1% during the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after purchasing an additional 349 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of MGM Resorts International by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 26,210 shares of the company’s stock worth $776,000 after buying an additional 410 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after buying an additional 421 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the company’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 transaction, the insider directly owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. The trade was a 65.56% 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MGM. Seaport Res Ptn cut shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Citizens Jmp downgraded MGM Resorts International from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of MGM Resorts International in a report on Wednesday, October 8th. Finally, JMP Securities restated a “market perform” rating on shares of MGM Resorts International in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.78.

MGM Resorts International Stock Down 0.3%

NYSE:MGM opened at $31.58 on Friday. 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 stock has a market cap of $8.60 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 1.30 and a beta of 1.67. The stock has a 50-day moving average price of $35.50 and a two-hundred day moving average price of $34.06.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data 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. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the business posted $0.86 EPS. MGM Resorts International’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

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.