Insider Buying: MGM Resorts International (NYSE:MGM) CFO Acquires 10,000 Shares of Stock

MGM Resorts International (NYSE:MGM - Get Free Report) CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded up $0.41 on Friday, hitting $32.05. 9,372,192 shares of the company were exchanged, compared to its average volume of 5,181,714. 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 50-day moving average price of $34.40 and a 200 day moving average price of $36.48. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1-year low of $30.69 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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, sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MGM. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at about $5,343,000. Jefferies Financial Group Inc. acquired a new position in MGM Resorts International in the 4th quarter valued at about $2,079,000. Ameriflex Group Inc. purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at approximately $484,000. Neo Ivy Capital Management acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $3,715,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MGM shares. Wells Fargo & Company increased their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Barclays reaffirmed an "equal weight" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, MGM Resorts International has a consensus rating of "Moderate Buy" and an average price target of $51.29.

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.