MGM Resorts International Sees Unusually High Options Volume (NYSE:MGM)

MGM Resorts International (NYSE:MGM - Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors purchased 21,351 put options on the stock. This represents an increase of 38% compared to the typical volume of 15,474 put options.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is owned by insiders.

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Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of MGM Resorts International by 12.6% during the third quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company's stock valued at $379,000 after buying an additional 1,084 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of MGM Resorts International by 4.8% during the third quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company's stock valued at $2,776,000 after buying an additional 3,285 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of MGM Resorts International by 58.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 163,120 shares of the company's stock valued at $6,376,000 after buying an additional 60,377 shares during the last quarter. Malaga Cove Capital LLC raised its holdings in shares of MGM Resorts International by 76.2% during the third quarter. Malaga Cove Capital LLC now owns 12,196 shares of the company's stock valued at $477,000 after buying an additional 5,276 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of MGM Resorts International during the third quarter valued at approximately $497,000. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

NYSE MGM traded up $0.41 during trading hours on Friday, reaching $32.05. The company's stock had a trading volume of 9,372,192 shares, compared to its average volume of 5,181,714. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50-day simple moving average of $34.40 and a 200 day simple moving average of $36.48. MGM Resorts International has a 52 week low of $30.69 and a 52 week high of $48.24. The stock has a market cap of $9.15 billion, a PE ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued 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 net margin of 4.33% and a return on equity of 21.08%. Equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGM shares. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Jefferies Financial Group lowered their target price on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Finally, Needham & Company LLC restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.