Integrated Quantitative Investments LLC bought a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,400 shares of the company's stock, valued at approximately $360,000.
Several other hedge funds also recently bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter worth $28,000. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% in the 4th 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 shares of 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 in the last quarter. Modus Advisors LLC acquired a new position in MGM Resorts International during the 4th quarter worth approximately $46,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of MGM Resorts International by 74.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock valued at $51,000 after purchasing an additional 633 shares during the period. Hedge funds and other institutional investors own 68.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on MGM. Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Macquarie reaffirmed an "outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Susquehanna Bancshares lifted their price objective on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Citigroup upped their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.29.
View Our Latest Report on MGM Resorts International
Insiders Place Their Bets
In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.83% of the company's stock.
MGM Resorts International Stock Performance
MGM Resorts International stock traded down $1.52 on Thursday, hitting $28.41. The company's stock had a trading volume of 2,937,920 shares, compared to its average volume of 4,551,401. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26. The firm has a market cap of $8.04 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average price of $32.85 and a 200-day moving average price of $35.36.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.
About MGM Resorts International
(
Free Report)
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.
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