6,682 Shares in MGM Resorts International (NYSE:MGM) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC bought a new stake in MGM Resorts International (NYSE:MGM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,682 shares of the company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International in the second quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 329 shares during the last quarter. UMB Bank n.a. grew its stake 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 period. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $45,000. Finally, Mendota Financial Group LLC raised its position in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The disclosure for this purchase can be found here. In the last three months, insiders have bought 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Trading Up 2.1 %

MGM opened at $37.75 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 capitalization of $11.84 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.64 and a beta of 2.22. The business has a fifty day moving average price of $39.26 and a 200 day moving average price of $41.27. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Sell-side analysts expect that MGM Resorts International will post 2.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGM. Susquehanna increased their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. BTIG Research initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price target for the company. Finally, Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.93.

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.