CrestPoint Capital Management LLC decreased its stake in MGM Resorts International (NYSE:MGM) by 38.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,300 shares of the company’s stock after selling 7,000 shares during the period. CrestPoint Capital Management LLC’s holdings in MGM Resorts International were worth $354,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. boosted its stake in MGM Resorts International by 509.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 74,550 shares of the company’s stock valued at $2,333,000 after buying an additional 62,317 shares during the last quarter. National Pension Service boosted its stake in MGM Resorts International by 9.6% in the second quarter. National Pension Service now owns 495,123 shares of the company’s stock valued at $16,285,000 after buying an additional 43,349 shares during the last quarter. Gateway Investment Advisers LLC boosted its stake in MGM Resorts International by 6.8% in the second quarter. Gateway Investment Advisers LLC now owns 228,974 shares of the company’s stock valued at $7,165,000 after buying an additional 14,625 shares during the last quarter. Bank of Montreal Can boosted its stake in MGM Resorts International by 141.0% in the second quarter. Bank of Montreal Can now owns 394,818 shares of the company’s stock valued at $12,353,000 after buying an additional 230,984 shares during the last quarter. Finally, Appleton Partners Inc. MA purchased a new stake in MGM Resorts International during the second quarter valued at about $599,000. Hedge funds and other institutional investors own 73.66% of the company’s stock.

MGM Resorts International (MGM) opened at 33.73 on Friday. The firm has a market cap of $19.39 billion, a PE ratio of 15.67 and a beta of 1.47. MGM Resorts International has a one year low of $22.87 and a one year high of $34.34. The company has a 50 day moving average of $32.35 and a 200-day moving average of $29.56. MGM Resorts International also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 22,322 put options on the company. This is an increase of approximately 339% compared to the typical volume of 5,083 put options.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Thursday, April 27th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.12. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.63 billion. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, equities research analysts predict that MGM Resorts International will post $1.26 earnings per share for the current year.

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Several research firms recently issued reports on MGM. Instinet restated a “buy” rating on shares of MGM Resorts International in a research report on Monday. UBS AG restated a “buy” rating on shares of MGM Resorts International in a research report on Monday, July 10th. Morgan Stanley restated an “overweight” rating and set a $34.00 price objective (up from $33.00) on shares of MGM Resorts International in a research report on Monday, July 10th. Deutsche Bank AG restated a “buy” rating and set a $34.00 price objective on shares of MGM Resorts International in a research report on Monday, July 3rd. Finally, BidaskClub cut shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $34.19.

In related news, EVP Robert Selwood sold 10,046 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $31.56, for a total transaction of $317,051.76. Following the completion of the sale, the executive vice president now owns 116,743 shares of the company’s stock, valued at approximately $3,684,409.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Mcmanus sold 10,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $31.28, for a total transaction of $312,800.00. Following the sale, the executive vice president now directly owns 46,917 shares of the company’s stock, valued at approximately $1,467,563.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,070 shares of company stock valued at $2,591,372. Corporate insiders own 12.20% of the company’s stock.

About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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