Barr E S & Co. Buys Shares of 9,000 MGM Resorts International (NYSE:MGM)

Barr E S & Co. acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,000 shares of the company’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its position in shares of MGM Resorts International by 13.8% in the third quarter. Stifel Financial Corp now owns 169,829 shares of the company’s stock worth $6,639,000 after acquiring an additional 20,542 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $641,000. Sanctuary Advisors LLC increased its holdings in shares of MGM Resorts International by 60.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock worth $1,954,000 after buying an additional 19,444 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth $55,000. Finally, Tidal Investments LLC boosted its holdings in MGM Resorts International by 269.7% in the third quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock valued at $1,292,000 after acquiring an additional 24,111 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MGM. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Citigroup lifted their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 2.2 %

Shares of MGM Resorts International stock opened at $29.39 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. The business has a 50-day moving average price of $32.64 and a 200 day moving average price of $35.25. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The firm has a market cap of $8.32 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction that occurred 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 purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Company Profile

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.