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

MGM Resorts International (NYSE:MGM) CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International 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 transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

MGM Resorts International Stock Up 1.3 %

NYSE:MGM traded up $0.41 during trading hours on Friday, reaching $32.05. 9,372,192 shares of the company traded hands, 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’s 50-day moving average price is $34.45 and its two-hundred day moving average price is $36.58. MGM Resorts International has a 1 year low of $30.69 and a 1 year high of $48.24. The stock has a market capitalization of $9.15 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. Analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGM. Empower Advisory Group LLC raised its holdings in MGM Resorts International by 4.2% in the 3rd 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 during the last quarter. Goldentree Asset Management LP raised its stake in shares of 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 purchasing an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at $2,010,000. ACR Alpine Capital Research LLC boosted its position in shares of MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after buying an additional 30,605 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MGM shares. Mizuho increased their price target on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Truist Financial reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Capital One Financial upped their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Macquarie reiterated an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.