MGM Resorts International Sees Unusually High Options Volume (NYSE:MGM)

MGM Resorts International (NYSE:MGM) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 21,994 put options on the stock. This is an increase of approximately 45% compared to the typical daily volume of 15,186 put options.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MGM. Mizuho dropped their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday. Macquarie decreased their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Truist Financial decreased their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Morgan Stanley lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.15.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $36.41 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The stock has a market cap of $11.06 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.02 and a beta of 2.23. The stock has a 50-day moving average of $38.46 and a 200-day moving average of $40.22. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.46%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CEO William Hornbuckle acquired 58,900 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the transaction, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the transaction, the chief financial officer now directly owns 38,299 shares in the company, valued at $1,302,166. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Hornbuckle purchased 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in MGM Resorts International during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. Eastern Bank acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $35,000. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in MGM Resorts International in the 2nd quarter valued at $49,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.