Virtu Financial LLC Takes $641,000 Position in MGM Resorts International (NYSE:MGM)

Virtu Financial LLC bought a new position in MGM Resorts International (NYSE:MGM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,401 shares of the company's stock, valued at approximately $641,000.

Several other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in MGM Resorts International during the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International during the third quarter valued at $28,000. Eastern Bank acquired a new position in MGM Resorts International during the third quarter valued at $35,000. UMB Bank n.a. lifted its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after acquiring an additional 237 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in MGM Resorts International during the third quarter valued at $44,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by company insiders.

MGM Resorts International Trading Down 1.5 %

MGM stock traded down $0.55 during midday trading on Friday, hitting $36.25. The stock had a trading volume of 2,843,383 shares, compared to its average volume of 4,063,788. 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 firm has a market cap of $10.79 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The business has a fifty day moving average price of $38.37 and a two-hundred day moving average price of $39.37. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. On average, sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. JMP Securities reduced their target price on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lowered their price target on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, October 1st. Finally, Truist Financial cut their price objective on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.