Tower Research Capital LLC TRC Buys 12,108 Shares of MGM Resorts International (NYSE:MGM)

Tower Research Capital LLC TRC boosted its stake in MGM Resorts International (NYSE:MGM - Free Report) by 127.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,613 shares of the company's stock after acquiring an additional 12,108 shares during the period. Tower Research Capital LLC TRC's holdings in MGM Resorts International were worth $749,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the last quarter. Korea Investment CORP grew its holdings in MGM Resorts International by 964.3% during the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock worth $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC raised its position in shares of MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock worth $5,613,000 after acquiring an additional 30,605 shares in the last quarter. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $2,010,000. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Trading Up 0.9 %

NYSE:MGM opened at $31.69 on Friday. 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 firm has a market cap of $8.97 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The firm has a 50-day moving average price of $31.33 and a two-hundred day moving average price of $34.57. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 price of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $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. Insiders own 3.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGM. Mizuho boosted their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research note 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. Morgan Stanley reduced their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Argus raised MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research report on Friday, February 14th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.06.

MGM Resorts International 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.

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