Banco BTG Pactual S.A. Invests $599,000 in MGM Resorts International (NYSE:MGM)

Banco BTG Pactual S.A. acquired a new stake in MGM Resorts International (NYSE:MGM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,793 shares of the company's stock, valued at approximately $599,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the fourth quarter valued at approximately $28,000. Assetmark Inc. lifted its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at $44,000. Finally, Modus Advisors LLC acquired a new stake in MGM Resorts International during the 4th quarter worth $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company's stock.

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MGM Resorts International Price Performance

MGM stock traded down $1.27 during trading on Friday, hitting $30.35. The stock had a trading volume of 6,499,936 shares, compared to its average volume of 4,349,088. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company's 50 day moving average price is $33.90 and its two-hundred day moving average price is $35.94. MGM Resorts International has a 1-year low of $29.99 and a 1-year high of $48.25.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MGM. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. BTIG Research lowered shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Friday, February 14th. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Morgan Stanley increased their price target on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.29.

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.