Banco BTG Pactual S.A. Takes $599,000 Position in MGM Resorts International (NYSE:MGM)

Banco BTG Pactual S.A. purchased a new position in MGM Resorts International (NYSE:MGM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,793 shares of the company’s stock, valued at approximately $599,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Charles Schwab Investment Management Inc. boosted its holdings in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after purchasing an additional 38,749 shares during the period. Goldentree Asset Management LP boosted its stake in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the period. ACR Alpine Capital Research LLC boosted its stake in MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after buying an additional 30,605 shares during the period. Davis Selected Advisers increased its position in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares during the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter valued at $2,010,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 1.2 %

MGM opened at $32.03 on Wednesday. The firm has a market cap 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 has a 12 month low of $29.99 and a 12 month high of $48.25. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a fifty day moving average price of $34.00 and a 200-day moving average price of $36.02.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share 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, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost 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 in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus increased their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Citigroup upped their price objective on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.29.

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.