Jonathan S. Halkyard Buys 10,000 Shares of MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of 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 trade represents a 15.23 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $32.05 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a fifty day moving average price of $34.40 and a 200 day moving average price of $36.51. MGM Resorts International has a 1-year low of $30.69 and a 1-year high of $48.24. The company has a market cap of $9.15 billion, a PE ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MGM shares. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, February 14th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Citigroup upped their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds have recently modified their holdings of the stock. Empower Advisory Group LLC raised its position in MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after acquiring an additional 62,997 shares in the last quarter. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International in the fourth quarter worth $2,010,000. ACR Alpine Capital Research LLC raised its position in MGM Resorts International by 23.3% in the fourth 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. Finally, Assenagon Asset Management S.A. raised its position in MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after acquiring an additional 159,522 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.