MYDA Advisors LLC Buys 40,000 Shares of MGM Resorts International (NYSE:MGM)

MYDA Advisors LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. MGM Resorts International makes up about 2.3% of MYDA Advisors LLC’s investment portfolio, making the stock its 13th largest position. MYDA Advisors LLC’s holdings in MGM Resorts International were worth $9,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Norinchukin Bank The raised its stake in shares of MGM Resorts International by 9.6% in the fourth quarter. Norinchukin Bank The now owns 10,681 shares of the company’s stock valued at $370,000 after acquiring an additional 939 shares during the last quarter. Ossiam raised its position in MGM Resorts International by 29.8% in the 4th quarter. Ossiam now owns 40,338 shares of the company’s stock valued at $1,398,000 after purchasing an additional 9,268 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in MGM Resorts International in the fourth quarter worth $1,068,000. First Trust Advisors LP boosted its stake in MGM Resorts International by 1.3% in the fourth quarter. First Trust Advisors LP now owns 288,252 shares of the company’s stock worth $9,988,000 after purchasing an additional 3,687 shares in the last quarter. Finally, Freedom Investment Management Inc. increased its stake in shares of MGM Resorts International by 11.3% in the fourth quarter. Freedom Investment Management Inc. now owns 8,893 shares of the company’s stock valued at $308,000 after buying an additional 905 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average price 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 document filed with the SEC, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MGM shares. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Capital One Financial upped their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Citigroup lifted their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note 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. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $50.71.

MGM Resorts International Price Performance

Shares of MGM stock opened at $28.89 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The firm has a fifty day moving average of $32.12 and a 200-day moving average of $34.90. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last announced 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%. On average, equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

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.