Hussman Strategic Advisors Inc. Purchases Shares of 42,000 MGM Resorts International (NYSE:MGM)

Hussman Strategic Advisors Inc. purchased a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,000 shares of the company's stock, valued at approximately $1,455,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Empower Advisory Group LLC boosted its stake in shares of MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP lifted its holdings in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International in the fourth quarter worth $2,010,000. Assenagon Asset Management S.A. grew its stake in MGM Resorts International by 80.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company's stock valued at $12,411,000 after purchasing an additional 159,522 shares during the period. Finally, Zacks Investment Management increased its position in shares of MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company's stock valued at $15,651,000 after purchasing an additional 29,107 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on 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 directly owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $2.28 on Friday, reaching $36.02. The stock had a trading volume of 5,167,674 shares, compared to its average volume of 5,180,714. The business's 50 day moving average is $34.53 and its two-hundred day moving average is $36.80. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a market cap of $10.28 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20.

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, 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%. As a group, research 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 several research reports. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target for the company in a research report on Friday, February 14th. JMP Securities reissued a "market outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Susquehanna Bancshares increased their price objective on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Citigroup boosted their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus price target of $51.47.

About MGM Resorts International

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.