MYDA Advisors LLC Buys 40,000 Shares of MGM Resorts International (NYSE:MGM)

MYDA Advisors LLC boosted its position in MGM Resorts International (NYSE:MGM - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 260,000 shares of the company's stock after purchasing an additional 40,000 shares during the period. MGM Resorts International accounts for about 2.3% of MYDA Advisors LLC's portfolio, making the stock its 13th biggest holding. MYDA Advisors LLC owned about 0.09% of MGM Resorts International worth $9,009,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MGM. Assetmark Inc. raised its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after buying an additional 411 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the fourth quarter worth $28,000. Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares during the period. Modus Advisors LLC bought a new stake in shares of MGM Resorts International in the fourth quarter worth $46,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in MGM Resorts International in the third quarter valued at $55,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Up 1.8 %

Shares of MGM Resorts International stock traded up $0.56 during trading hours on Wednesday, reaching $30.84. The company's stock had a trading volume of 5,789,226 shares, compared to its average volume of 4,652,365. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock's fifty day simple moving average is $31.63 and its two-hundred day simple moving average is $34.73. The company has a market capitalization of $8.73 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.98 and a beta of 1.96. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. On average, research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

MGM has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial increased their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Morgan Stanley dropped their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.06.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at $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 currently owned by corporate insiders.

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.