Bridgewater Associates LP Purchases 15,119 Shares of MGM Resorts International (NYSE:MGM)

Bridgewater Associates LP grew its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 419,332 shares of the company's stock after purchasing an additional 15,119 shares during the quarter. Bridgewater Associates LP owned approximately 0.14% of MGM Resorts International worth $14,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Guggenheim Capital LLC increased its stake in MGM Resorts International by 55.9% in the fourth quarter. Guggenheim Capital LLC now owns 15,256 shares of the company's stock valued at $529,000 after purchasing an additional 5,468 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in MGM Resorts International in the 4th quarter valued at $91,000. XTX Topco Ltd bought a new position in MGM Resorts International during the 4th quarter worth about $840,000. Investment Counsel Co. of Nevada bought a new stake in shares of MGM Resorts International in the fourth quarter valued at about $54,000. Finally, Barr E S & Co. acquired a new stake in MGM Resorts International in the 4th quarter valued at approximately $312,000. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Up 1.5 %

NYSE MGM traded up $0.43 during trading hours on Friday, hitting $28.89. 4,333,562 shares of the company's stock were exchanged, compared to its average volume of 4,617,484. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $47.26. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a 50-day simple moving average of $32.12 and a 200 day simple moving average of $34.93. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Capital One Financial lifted their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Mizuho increased their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Argus upgraded MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. Finally, Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.71.

Insider Buying and Selling at MGM Resorts International

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

MGM Resorts International Company 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.