60,000 Shares in MGM Resorts International (NYSE:MGM) Acquired by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new stake in MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 60,000 shares of the company's stock, valued at approximately $2,079,000.

A number of other large investors have also recently added to or reduced their stakes in MGM. TD Waterhouse Canada Inc. grew its stake in MGM Resorts International by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock valued at $111,000 after acquiring an additional 261 shares in the last quarter. Ballentine Partners LLC increased its position in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock valued at $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after purchasing an additional 333 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MGM. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. JMP Securities cut their price objective on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research note on Thursday, April 17th. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and an average target price of $48.94.

Insider Activity

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 51,261 shares of company stock valued at $1,788,007 in the last quarter. Insiders own 3.06% of the company's stock.

MGM Resorts International Price Performance

Shares of MGM traded down $0.43 during trading hours on Friday, hitting $33.96. 4,680,480 shares of the stock were exchanged, compared to its average volume of 4,746,064. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. The stock's 50-day moving average price is $30.87 and its two-hundred day moving average price is $33.82.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. Research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International declared that its board has authorized a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 22.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

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.