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

MGM Resorts International (NYSE:MGM) CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were acquired 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 directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

MGM Resorts International Trading Up 1.3 %

MGM Resorts International stock opened at $32.05 on Friday. The business has a 50-day simple moving average of $34.45 and a two-hundred day simple moving average of $36.58. The company has a market cap of $9.15 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 52-week low of $30.69 and a 52-week high of $48.24. 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 posted 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%. Analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MGM. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new position in MGM Resorts International in the 4th quarter worth approximately $28,000. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares in the last quarter. True Wealth Design LLC purchased a new position in MGM Resorts International in the 4th quarter worth approximately $33,000. Finally, Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MGM. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Mizuho lifted their price target on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Susquehanna Bancshares lifted their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat.com, the company currently 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.