Insider Buying: MGM Resorts International (NYSE:MGM) CFO Purchases 10,000 Shares of Stock

MGM Resorts International (NYSE:MGM) CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $32.05 on Monday. The stock has a fifty day moving average of $34.40 and a 200 day moving average of $36.48. MGM Resorts International has a 52 week low of $30.69 and a 52 week high of $48.24. The firm 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. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. As a group, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGM. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company increased their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.29.

Institutional Trading of MGM Resorts International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in MGM Resorts International in the fourth quarter worth $5,343,000. Jefferies Financial Group Inc. purchased a new position in MGM Resorts International during the fourth quarter valued at $2,079,000. Ameriflex Group Inc. purchased a new position in MGM Resorts International during the fourth quarter valued at $484,000. Neo Ivy Capital Management purchased a new position in MGM Resorts International during the fourth quarter valued at $3,715,000. Finally, Fourth Dimension Wealth LLC purchased a new position in MGM Resorts International during the fourth quarter valued at $115,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.