New Age Alpha Advisors LLC Purchases New Holdings in MGM Resorts International (NYSE:MGM)

New Age Alpha Advisors LLC bought a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 128,323 shares of the company's stock, valued at approximately $4,446,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. boosted its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after acquiring an additional 411 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new position in MGM Resorts International in the 3rd quarter worth about $44,000. Global Retirement Partners LLC increased its stake in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in MGM Resorts International during the 4th quarter worth about $46,000. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Stock Up 0.8 %

Shares of MGM traded up $0.25 during trading hours on Tuesday, hitting $29.89. 4,556,444 shares of the company were exchanged, compared to its average volume of 4,362,142. 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 company has a market cap of $8.53 billion, a PE ratio of 12.46, a PEG ratio of 0.98 and a beta of 2.18. The firm's 50 day moving average is $33.84 and its 200-day moving average is $35.90. MGM Resorts International has a 52 week low of $28.63 and a 52 week high of $48.25.

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

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on MGM. Citigroup raised their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Capital One Financial increased their price objective on 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 investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $51.29.

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.