Barr E S & Co. Invests $312,000 in MGM Resorts International (NYSE:MGM)

Barr E S & Co. purchased a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,000 shares of the company's stock, valued at approximately $312,000.

Several other institutional investors and hedge funds have also bought and sold shares of MGM. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $28,000. Assetmark Inc. raised its position in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Global Retirement Partners LLC lifted its stake in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after buying an additional 633 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.13% of the company's stock.

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MGM Resorts International Trading Up 0.3 %

NYSE MGM traded up $0.09 during mid-day trading on Tuesday, reaching $29.71. 5,791,255 shares of the stock were exchanged, compared to its average volume of 4,592,038. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a market cap of $8.41 billion, a P/E ratio of 12.38, a P/E/G ratio of 0.98 and a beta of 1.96. The stock has a 50 day simple moving average of $32.46 and a 200-day simple moving average of $35.12. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26.

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 analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of research reports. Macquarie reissued an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Capital One Financial increased their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a "market outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Morgan Stanley raised their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Monday, February 24th. Finally, Leerink Partners cut MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International presently has a consensus rating of "Moderate Buy" and a consensus target price 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.