Lodge Hill Capital LLC Acquires Shares of 275,000 MGM Resorts International (NYSE:MGM)

Lodge Hill Capital LLC bought a new position in MGM Resorts International (NYSE:MGM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 275,000 shares of the company's stock, valued at approximately $9,529,000. MGM Resorts International makes up about 2.6% of Lodge Hill Capital LLC's portfolio, making the stock its 16th largest holding. Lodge Hill Capital LLC owned about 0.09% of MGM Resorts International as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $28,000. Assetmark Inc. lifted its position in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the period. Modus Advisors LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 74.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after acquiring an additional 633 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Activity

In related news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value 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 approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. 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 firm's stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, 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. 3.06% of the stock is owned by company insiders.

MGM Resorts International Stock Performance

Shares of MGM stock traded up $0.43 during trading hours on Friday, reaching $28.89. 4,333,562 shares of the company's stock were exchanged, compared to its average volume of 4,625,346. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. 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 stock has a market capitalization of $8.18 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96. The business has a fifty day moving average price of $32.12 and a 200-day moving average price of $34.90.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued 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 net margin of 4.33% and a return on equity of 21.08%. Analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on MGM shares. Citigroup lifted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. BTIG Research cut MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Stifel Nicolaus increased their price objective on MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Capital One Financial increased their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus 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.