ACR Alpine Capital Research LLC Has $5.61 Million Stake in MGM Resorts International (NYSE:MGM)

ACR Alpine Capital Research LLC lifted its stake in MGM Resorts International (NYSE:MGM - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 161,990 shares of the company's stock after acquiring an additional 30,605 shares during the quarter. MGM Resorts International makes up approximately 0.1% of ACR Alpine Capital Research LLC's investment portfolio, making the stock its 22nd largest position. ACR Alpine Capital Research LLC owned approximately 0.05% of MGM Resorts International worth $5,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Empower Advisory Group LLC increased its position in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after purchasing an additional 62,997 shares during the last quarter. Goldentree Asset Management LP grew its stake 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 valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in MGM Resorts International during the fourth quarter worth $2,010,000. Assenagon Asset Management S.A. raised its position in MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company's stock worth $12,411,000 after acquiring an additional 159,522 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company's stock valued at $15,651,000 after acquiring an additional 29,107 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Analyst Upgrades and Downgrades

MGM has been the topic of several recent analyst reports. Macquarie restated an "outperform" rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Barclays reissued an "equal weight" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho raised their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Susquehanna Bancshares boosted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.29.

MGM Resorts International Price Performance

Shares of NYSE MGM traded down $1.54 during mid-day trading on Monday, reaching $33.22. The company had a trading volume of 4,896,211 shares, compared to its average volume of 5,070,757. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.98 and a beta of 2.20. 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 one year low of $31.61 and a one year high of $48.24. The business's 50-day simple moving average is $34.62 and its 200 day simple moving average is $36.73.

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, topping 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%. On average, research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% 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.