Jump Financial LLC Has $856,000 Stake in MGM Resorts International (NYSE:MGM)

Jump Financial LLC cut its position in MGM Resorts International (NYSE:MGM - Free Report) by 86.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,706 shares of the company's stock after selling 153,442 shares during the quarter. Jump Financial LLC's holdings in MGM Resorts International were worth $856,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MGM. Virtu Financial LLC acquired a new stake in MGM Resorts International during the 3rd quarter worth approximately $641,000. Wilmington Savings Fund Society FSB acquired a new position in shares of MGM Resorts International during the third quarter worth $55,000. Tidal Investments LLC grew its stake in shares of MGM Resorts International by 269.7% in the third quarter. Tidal Investments LLC now owns 33,050 shares of the company's stock worth $1,292,000 after purchasing an additional 24,111 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of MGM Resorts International in the third quarter worth $309,000. Finally, Oddo BHF Asset Management Sas bought a new position in MGM Resorts International during the 3rd quarter worth $1,886,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $28.99 on Tuesday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.98 and a beta of 1.96. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The firm's 50-day simple moving average is $32.01 and its 200 day simple moving average 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 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%. As a group, research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BTIG Research lowered MGM Resorts International from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research 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 stock an "overweight" rating in a research report on Wednesday, February 12th. Truist Financial cut their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Citigroup boosted their price objective 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. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average target price of $50.71.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

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.

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