Hussman Strategic Advisors Inc. Acquires New Stake in MGM Resorts International (NYSE:MGM)

Hussman Strategic Advisors Inc. purchased a new position in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,000 shares of the company’s stock, valued at approximately $1,455,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the third quarter worth about $28,000. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International in the fourth quarter worth about $28,000. Eastern Bank purchased a new stake in MGM Resorts International in the third quarter worth about $35,000. Global Retirement Partners LLC increased its position in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in MGM Resorts International in the third quarter worth about $44,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM opened at $38.38 on Thursday. The firm has a market capitalization of $11.43 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 3.06 and a beta of 2.20. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The business has a 50 day simple moving average of $34.51 and a 200-day simple moving average of $36.78. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

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

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MGM. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Macquarie reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Friday, February 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 research note on Wednesday, February 12th. Finally, Barclays upped their price objective on MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.47.

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.