Virtu Financial LLC Buys 814 Shares of MGM Resorts International (NYSE:MGM)

Virtu Financial LLC increased its stake in shares of MGM Resorts International (NYSE:MGM) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,215 shares of the company’s stock after acquiring an additional 814 shares during the quarter. Virtu Financial LLC’s holdings in MGM Resorts International were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MGM. Quantbot Technologies LP boosted its position in MGM Resorts International by 110.5% in the 4th quarter. Quantbot Technologies LP now owns 136,433 shares of the company’s stock valued at $4,727,000 after buying an additional 71,627 shares during the last quarter. Blueshift Asset Management LLC boosted its holdings in MGM Resorts International by 26.4% in the fourth quarter. Blueshift Asset Management LLC now owns 32,151 shares of the company’s stock valued at $1,114,000 after acquiring an additional 6,715 shares during the last quarter. Royal London Asset Management Ltd. increased its position in MGM Resorts International by 19.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 114,666 shares of the company’s stock worth $3,973,000 after purchasing an additional 18,419 shares during the period. American Assets Investment Management LLC raised its holdings in MGM Resorts International by 26.5% during the 4th quarter. American Assets Investment Management LLC now owns 31,565 shares of the company’s stock worth $1,094,000 after purchasing an additional 6,619 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in MGM Resorts International by 13.2% during the 4th quarter. Cibc World Markets Corp now owns 35,770 shares of the company’s stock valued at $1,239,000 after purchasing an additional 4,184 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 1.2 %

NYSE:MGM opened at $32.03 on Wednesday. The company has a market cap of $9.15 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The business has a 50 day moving average price of $34.00 and a two-hundred day moving average price of $36.02. 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 released its 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 net margin of 4.33% and a return on equity of 21.08%. As a group, analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now 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. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MGM has been the subject of several analyst reports. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Finally, Barclays restated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.29.

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.