SG Americas Securities LLC Increases Stake in MGM Resorts International (NYSE:MGM)

SG Americas Securities LLC lifted its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 309.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,872 shares of the company's stock after buying an additional 73,229 shares during the period. SG Americas Securities LLC's holdings in MGM Resorts International were worth $3,787,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Boston Partners increased its stake in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company's stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of MGM Resorts International by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company's stock valued at $194,686,000 after purchasing an additional 213,528 shares during the last quarter. Bamco Inc. NY raised its holdings in MGM Resorts International by 3.6% during the 1st quarter. Bamco Inc. NY now owns 2,101,065 shares of the company's stock valued at $99,191,000 after buying an additional 73,515 shares during the period. Marshall Wace LLP lifted its position in MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock worth $49,330,000 after buying an additional 706,159 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new position in MGM Resorts International during the first quarter worth $35,726,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MGM Resorts International

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the acquisition, the chief financial officer now owns 38,299 shares of the company's stock, valued at $1,302,166. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MGM Resorts International news, Director Paul J. Salem bought 147,500 shares of the company's stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the purchase, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the purchase, the chief financial officer now owns 38,299 shares of the company's stock, valued at $1,302,166. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 216,400 shares of company stock valued at $7,312,197 over the last quarter. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Stock Up 1.7 %

Shares of MGM traded up $0.67 during mid-day trading on Monday, hitting $41.10. The company's stock had a trading volume of 4,515,126 shares, compared to its average volume of 4,122,760. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.68 and a beta of 2.23. The company's 50-day moving average is $37.76 and its 200-day moving average is $40.86. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business had revenue of $4.33 billion for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter last year, the firm earned $0.59 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MGM shares. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a research note on Thursday, August 1st. Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. BTIG Research started coverage on MGM Resorts International in a report on Wednesday, July 3rd. They issued a "buy" rating and a $52.00 price target on the stock. Finally, JMP Securities dropped their price objective on MGM Resorts International from $59.00 to $57.00 and set a "market outperform" rating for the company in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and an average price target of $53.93.

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.