Farringdon Capital Ltd. Takes $691,000 Position in MGM Resorts International (NYSE:MGM)

Farringdon Capital Ltd. acquired a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,955 shares of the company's stock, valued at approximately $691,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGM. Ballentine Partners LLC increased its holdings in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after purchasing an additional 333 shares during the last quarter. Global Retirement Partners LLC increased 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 worth $43,000 after buying an additional 404 shares during the last quarter. Assetmark Inc. lifted its holdings 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 acquiring an additional 411 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in MGM Resorts International by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock worth $5,073,000 after acquiring an additional 469 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company's stock, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price 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 of the company's stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

MGM Resorts International Stock Performance

MGM Resorts International stock traded up $1.13 during trading hours on Tuesday, hitting $30.05. 1,130,564 shares of the stock traded hands, compared to its average volume of 4,611,979. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.98 and a beta of 1.96. 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 firm's 50 day moving average price is $32.01 and its 200-day moving average price is $34.79.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results 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 net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Argus raised MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares increased their price objective on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Leerink Partners lowered shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Finally, JMP Securities lowered their price target on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $50.71.

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.