Littlejohn Financial Services Inc. Takes $1.04 Million Position in MGM Resorts International (NYSE:MGM)

Littlejohn Financial Services Inc. purchased a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,140 shares of the company's stock, valued at approximately $1,044,000.

Several other large investors have also recently made changes to their positions in the business. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the third quarter worth approximately $97,725,000. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of MGM Resorts International in the third quarter worth approximately $17,622,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company's stock worth $25,662,000 after purchasing an additional 442,975 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of MGM Resorts International by 3,041.1% in the fourth quarter. KBC Group NV now owns 388,047 shares of the company's stock worth $13,446,000 after purchasing an additional 375,693 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction dated Friday, December 13th. The stock was 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 approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.13% of the stock is owned by insiders.

MGM Resorts International Stock Down 4.3 %

Shares of MGM traded down $1.70 during trading hours on Tuesday, hitting $38.12. The company had a trading volume of 6,062,168 shares, compared to its average volume of 5,268,659. The firm has a fifty day moving average price of $34.48 and a 200-day moving average price of $36.76. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly 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 return on equity of 25.84% and a net margin of 5.23%. On average, equities research analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho raised their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Friday. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Jefferies Financial Group cut 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. Finally, 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 report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average 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.