Jonathan S. Halkyard Purchases 10,000 Shares of MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

MGM Resorts International Price Performance

MGM opened at $32.05 on Friday. The business’s fifty day simple moving average is $34.45 and its 200-day simple moving average is $36.58. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $30.69 and a 12-month high of $48.24. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Mizuho boosted their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. 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, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $51.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGM. Farther Finance Advisors LLC increased its holdings in shares of MGM Resorts International by 12.6% in the third quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company’s stock valued at $379,000 after purchasing an additional 1,084 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of MGM Resorts International by 4.8% in the third quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company’s stock valued at $2,776,000 after purchasing an additional 3,285 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of MGM Resorts International by 58.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 163,120 shares of the company’s stock valued at $6,376,000 after purchasing an additional 60,377 shares during the period. Malaga Cove Capital LLC increased its holdings in shares of MGM Resorts International by 76.2% in the third quarter. Malaga Cove Capital LLC now owns 12,196 shares of the company’s stock valued at $477,000 after purchasing an additional 5,276 shares during the period. Finally, Olympiad Research LP acquired a new position in shares of MGM Resorts International in the third quarter valued at about $497,000. 68.11% of the stock is 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.