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

MGM Resorts International (NYSE:MGM) 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 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 of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MGM Resorts International Price Performance

MGM traded up $0.41 during trading 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 market cap of $9.15 billion, a P/E ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 12-month low of $30.69 and a 12-month high of $48.24. The firm has a fifty day simple moving average of $34.45 and a 200 day simple moving average of $36.58.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 forecast that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MGM. Mizuho increased their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, February 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds have recently made changes to their positions in MGM. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International in the third quarter valued at $28,000. Global Trust Asset Management LLC purchased a new position in MGM Resorts International during the fourth quarter worth $28,000. Assetmark Inc. boosted its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the period. True Wealth Design LLC bought a new stake in MGM Resorts International in the fourth quarter worth about $33,000. Finally, Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.